Joint City BOCC OBWA Res #92-14 find utility solutionsJOINT RESOLUTION NO. 92
A JOINT RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
OKEECHOBEE, FLORIDA "CITY THE BOARD OF COUNTY
COMMISSIONERS OF OKEECHOBEE COUNTY, FLORIDA "COUNTY
AND THE BOARD OF DIRECTORS OF THE OKEECHOBEE BEACH WATER
ASSOCIATION, INC., A FLORIDA CORPORATION "ASSOCIATION
RELATING TO THE EVALUATION, STUDY AND CONSIDERATION OF
ALTERNATIVE METHODS OF PROVIDING SANITARY SEWER AND
POTABLE WATER FACILITIES AND SERVICES TO THE MORE
DEVELOPED UNINCORPORATED AREAS OF SOUTHERN OKEECHOBEE
COUNTY; PROVIDING SEVEN (7) FACTORS TO EVALUATE VARIOUS
METHODS OF PROVIDING SUCH FACILITIES AND SERVICES;
PROVIDING THAT ONE OF THE METHODS EVALUATED SHALL INCLUDE
THE METHOD OF CENTRALIZED PROVISION OF SANITARY SEWER AND
POTABLE WATER FACILITIES THROUGH THE PLANNING, FUNDING,
CREATION, IMPLEMENTATION AND USE OF A UTILITY AUTHORITY
TO PROVIDE SUCH FACILITIES AND SERVICES; PROVIDING THAT
THE EVALUATION OF SUCH A UTILITY AUTHORITY I8 TO BE DONE
IN THE SPIRIT OF WHAT IS BEST FOR THE WHOLE COMMUNITY AND
RECOGNIZES THE EXISTING INFRASTRUCTURE INVESTMENT WHICH
HAS BEEN MADE BY THE CITY AND ASSOCIATION; AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, the City of Okeechobee (City) is a provider of
sanitary sewer and potable water facilities and services within
unincorporated areas of Okeechobee County; and
WHEREAS, the Okeechobee Beach Water Association (Association)
is a provider of potable water facilities and services within
unincorporated areas of Okeechobee County; and
WHEREAS, Okeechobee County (County), although not a provider
of sanitary sewer and potable water facilities and services, was
required by the Local Government Comprehensive Planning and Land
Development Regulation Act, Chapter 163, Part II, Florida Statutes,
to adopt a sanitary sewer and potable water element as part of the
County's Comprehensive Plan,which is correlated to principles and V
guidelines for future land use, and indicates ways to provide for
future sanitary sewer and potable water requirements for the
unincorporated areas of the County; and
WHEREAS, Sanitary Sewer and Potable Water Element Objective S3
of the Okeechobee County Comprehensive Plan adopted on April 2,
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4. Early Retirement Benefit
A member retiring hereunder on his early retirement date may receive
either a deferred or an immediate monthly retirement benefit payable for life as
follows:
A. A deferred monthly retirement benefit which shall commence on
what would have been his normal retirement date had he
remained a Firefighter and shall be continued on the first day of
each month thereafter. The amount of each such deferred
monthly retirement benefit shall be determined in the same
manner as for retirement on his normal retirement date except
that credited service and average final compensation shall be
determined as of his early retirement date; or
B. An immediate monthly retirement benefit which shall commence
on his early retirement date and shall be continued on the first
day of each month thereafter. The benefit payable shall be as
determined in paragraph A above, which is actuarially reduced
from the amount to which he would have been entitled had he
retired on his normal retirement date and with the same number
of years of credited service as at the time his benefits commence
and based on his average final compensation at that date.
Section 7. DEATH BENEFITS.
1. Prior to Vesting or Eligibility for Retirement.
The beneficiary of a deceased Member who was not receiving monthly
benefit payments, or who was not yet vested or eligible for retirement shall receive
a refund of one hundred percent (100 of the Member's Accumulated Contribu-
tions.
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1992 requires that the County coordinate with the City and the
Association as providers of sanitary sewer and /or potable water
facilities to: maximize the use of existing facilities; coordinate
the extension of facilities in unincorporated areas of the County;
and encourage efficient patterns of development while discouraging
urban sprawl; and
WHEREAS, Sanitary Sewer and Potable Water Element Policy S3.2
of the County adopted Comprehensive Plan further requires that the
County continue working with the City in order that the County and
City may evaluate and determine the feasibility of establishing a
utility authority which would be responsible for meeting the
sanitary sewer and potable water facility and service needs of
Southern Okeechobee County; and
WHEREAS, the City, the County and the Association desire to
coordinate their respective local governmental comprehensive
planning and corporate planning efforts concerning the provision of
sanitary sewer and potable water facilities and services to: p
maximize the use of existing facilities; coordinate the extension
of facilities and expansion of capacity to serve the more developed
unincorporated areas of South Okeechobee County (Study Area)
consistent with the local government comprehensive plans of the
City and the County, the sanitary sewer and potable water
geographic service areas served by the City and the Association,
and infrastructure investments of the City and the Association; and
encourage efficient patterns of development while discouraging
urban sprawl; and
WHEREAS, the City, the County and the Association agree that
prior to determining how to best coordinate their respective local
governmental and corporate planning efforts concerning the
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bookkeeping basis. Funds arising from these sources may be used only for addi-
tional benefits for Members, as determined by the Board, and may not be used to
reduce what would have otherwise been required City contributions.
Section 6. BENEFIT AMOUNTS AND ELIGIBILITY.
1. Normal Retirement Date.
A Member's normal retirement date shall be the first day of the month
coincident with, or the next following age sixty (60) and the completion of ten (10)
years of credited service or upon the completion of twenty -five (25) years of credited
service regardless of age. A Member may retire on his normal retirement date or on
the first day of any month thereafter, and each Member shall become 100% vested
in his accrued benefit on the Member's normal retirement date. Normal retirement
under the Plan is retirement from employment with the City on or after the normal
retirement date.
2. Normal Retirement Benefit
A Member retiring hereunder on or after his normal retirement date shall
receive a monthly benefit which shall commence on his Retirement Date and be
continued thereafter during Member's lifetime, ceasing upon death, but with one
hundred twenty (120) monthly payments guaranteed in any event. The monthly
retirement benefit shall equal three percent (3 of average final compensation, for
each year of credited service.
3. Early Retirement Date
A Member may retire on his early retirement date which shall be the first
day of any month coincident with or next following the attainment of age fifty -five
(55) and the completion of ten (10) years of credited service. Early retirement under
the Plan is retirement from employment with the City on or after the early retirement
date and prior to the normal retirement date.
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provision of sanitary sewer and potable water facilities and
services to the Study Area, alternative methods of providing such
facilities and services must be evaluated, studied, analyzed and
considered in order to determine the maximum economically feasible
method for providing such facilities and services that is both
beneficial to the entire community and equitable to the City, the
Association and the County; and
WHEREAS, one of the methods of providing such sanitary sewer
and potable water facilities and services which needs to be
evaluated is the provision of central sanitary sewer and potable
water facilities to the Study Area; and
WHEREAS, in evaluating the central sanitary sewer and potable
water method of providing such facilities and services to the Study
Area, the City, the County and the Association are desirable of
undertaking a non binding analysis of employing the use of one
regional entity, or utility authority, to provide central sanitary
sewer and potable water facilities and services to the Study Area
and possibly adjacent developing area in Glades County; and
WHEREAS, the City, the County and the Association acknowledge
and agree that the City has issued, and may from time to time
issue, bonds and notes secured by the City's combined water and
sewer system and same desire to preserve the rights of the holders
and insurers of such bonds and notes from being impaired by the
undertakings contemplated in this Joint Resolution; and
WHEREAS, the City, the County and the Association acknowledge
and agree that nothing in this Joint Resolution shall restrain or
inhibit the City from exercising its rights, nor from performing
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of Trustees at least monthly. The contributions made by each
Member to the Fund shall be designated as employer contributions
pursuant to §414(h) of the Internal Revenue Code of 1986. Such
designation is contingent upon the contributions being excluded
from the Members' gross income for Federal Income Tax
purposes. For all other purposes of the Plan, such contributions
shall be considered to be Member contributions.
B. Method. Such contributions shall be made by payroll deduction.
2. State Contributions.
Any monies received or receivable by reason of laws of the State of
Florida, for the express purpose of funding and paying for retirement benefits for
Firefighters of the City shall be deposited in the Trust Fund comprising part of this
System immediately and under no circumstances more than five (5) days after
receipt by the City.
3. City Contributions.
So long as this System is in effect, the City shall make quarterly
contributions to the Trust Fund in an amount equal to the difference in each year,
between the total aggregate Member contributions for the year, plus state
contributions for such year, and the total cost for the year, as shown by the most
recent actuarial valuation of the system. The total cost for any year shall be defined
as the total normal cost plus the additional amount sufficient to amortize the
unfunded past service liability over a forty (40) year period, commencing with the
fiscal year in which the effective date of this system occurs.
4. Other.
Private donations, gifts and contributions may be deposited to the Fund,
but such deposits must be accounted for separately and kept on a segregated
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its obligations, under the respective resolutions of the City
securing the bonds and notes of the City for its combined water and
sewer system; and
WHEREAS, the method of a single utility authority servicing
the Study Area and possible adjacent developing areas in Glades
County should be evaluated further as to whether such an approach:
(1) would be the maximum economically feasible method of providing
such facilities and services to the Study area and possible
adjacent developing areas in Glades County, giving due regard to
the rights and obligations of the City with respect to its bonds
and notes; (2) would take advantage of economics of scale; (3)
would transcend the existing governmental boundaries of the City,
the County and Glades County; (4) would be consistent with the
comprehensive plans of the City and the County; (5) would
transcend the existing sanitary sewer and potable water geographic
service areas served by the City and the Association; (6) could
be planned for, created, funded, implemented and used in a manner
which is both beneficial to the entire community and deals
equitably with the sanitary sewer and potable water infrastructure
investments which have been made by the City and the Association,
and (7) put the community as a whole in the best position to seek
subsidy from State or Federal Sources.
NOW THEREFORE, IN THE SPIRIT OF MUTUAL COOPERATION, BE IT
RESOLVED BY THE CITY, COUNTY AND OKEECHOBEE BEACH WATER
ASSOCIATION, AS FOLLOWS:
SECTION 1. Over the period of approximately 120 days
following the effective date of this Joint Resolution, the City,
the County and the Association will work diligently together to
evaluate, study, analyze and consider a number of methods of
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payment shall be charged against payments next succeeding the
correction. Underpayments shall be made up from the Trust
Fund.
K. The Board shall sustain no liability whatsoever for the sufficiency
of the Fund to meet the payments and benefits herein provided
for.
L. In any application to or proceeding or action in the courts, only
the Board shall be a necessary party, and no Member or other
person having an interest in the Fund shall be entitled to any
notice or service of process. Any judgment entered in such a
proceeding or action shall be conclusive upon all persons.
M. Any of the foregoing powers and functions reposed in the Board
may be performed or carried out by the Board through duly
authorized Agents, provided that the Board at all times maintains
continuous supervision over the acts of any such Agent; provided
further, that legal title to said Fund shall always remain in the
Board of Trustees.
N. The Board shall not invest more than ten percent (10 at cost
of its assets in real property or real estate and there shall be no
investment in a limited partnership or trust.
Section 5. CONTRIBUT IONS.
1. Member Contributions.
A. Amount. Members of the Retirement System shall be required to
make regular contributions to the Fund in the amount of five
percent (5 of his salary. Member contributions withheld by the
City on behalf of the Member shall be deposited with the Board
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coordinating their planning efforts, based on the above specified
seven (7) factors, to provide sanitary sewer and potable water
facilities and services to the Study Area and possible adjacent
developing areas in Glades County. The methods evaluated shall
include the method of centralized provision of such facilities and
services through the planning, funding, creation, implementation
and use of one regional utility entity or utility authority to
provide sanitary sewer and potable water facilities and services to
the Study Area and possible adjacent developing areas in Glades
County. The evaluation, study, analysis and consideration is to be
done in the spirit of what is best for the whole community, not
just one area or another, and shall recognize the existing
infrastructure investment which has been made by the City and the
Association. However, neither the City, the County nor the
Okeechobee Beach Water Association shall in any way be bound or
committed to plan for, fund, create, implement or use such a
regional utility authority approach or any other method.
SECTION 2. (a) The City, the County and Association
hereby respectively authorize and direct the Mayor, Commission
Chairman and a duly authorized corporate officer of the Association
to meet within 30 days of the effective date of this Joint
Resolution to propose a schedule of 4 or 5 workshops, and a
proposed agenda for each workshop, to evaluate, study, analyze and
consider, based on the above specified seven (7) factors,
alternative methods of providing sanitary sewer and potable water
facilities and services to the Study Area and possible adjacent
developing areas in Glades County.
(b) The Mayor, Commission Chairman and duly authorized
corporate officer from the Association may jointly or individually
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with or without power of substitution; to participate in mergers,
reorganizations, recapitalizations, consolidations, and similar
transactions with respect to such securities; to deposit such stock
or other securities in any voting trust or any protective or like
committee with the Trustees or with depositories designated
thereby; to amortize or fail to amortize any part or all of the
premium or discount resulting from the acquisition or disposition
of assets; and generally to exercise any of the powers of an
owner with respect to stocks, bonds, or other investments
comprising the Fund which it may deem to be to the best interest
of the Fund to exercise.
H. The Board shall not be required to make any inventory or appraisal
or report to any court, nor to secure any order of court for the
exercise of any power contained herein.
Where any action which the Board is required to take or any duty
or function which it is required to perform either under the terms
herein or under the general law applicable to it as Trustee under
this Ordinance, can reasonably be taken or performed only after
receipt by it from a Member, the City, or any other entity, of
specific information, certification, direction or instructions, the
Board shall be free of liability in failing to take such action or
perform such duty or function until such information, certi-
fication, direction or instruction has been received by it.
J. Any overpayments or underpayments from the Fund to a Member
or beneficiary caused by errors of computation shall be adjusted
with interest at a rate per annum approved by the Board. Over
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report back for consideration of their respective governing bodies
the results of their evaluation, study, analysis and consideration
of alternative methods of providing sanitary sewer and potable
water facilities and services to the Study Area.
SECTION 3. This Joint Resolution shall take effect
immediately at the point in time when the last of the City, County
and Okeechobee Beach Water Association separately adopts same.
Adopted this day of August, 1992, by the City.
ATTEST:
Bonnie S. Thomas, CMC, City Clerk
Adopted this day of August, 1992, by the County.
ATTEST:
James E. Kirk, Mayor
Charles W. Harvey, Chairman
Adopted this day of August, 1992, by the Okeechobee
Beach Water Association.
Witness
Witness
Jack Coker, Director
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major rating service and no foreign investments shall be
permitted in the pooled fund.
(6) Real estate.
C. The Board of Trustees shall not invest more than five percent
(5 of its assets in the common stock or capital stock of any
one issuing company, nor shall the aggregate investment in any
one issuing company exceed five percent (5 of the outstanding
capital stock of that company; nor shall the aggregate of its
investments in common stock, capital stock and convertible bonds
at cost exceed sixty percent (60 of the assets of the Fund.
D. The Board of Trustees may retain in cash and keep unproductive
of income such amount of the Fund as it may deem advisable,
having regard for the cash requirements of the System.
E. No person or entity shall be liable for the making, retention or sale
of any investment or reinvestment made as herein provided, nor
for any Toss or diminishment of the Fund, except that due to his
or its own negligence, willful misconduct or lack of good faith.
F. The Board may cause any investment in securities held by it to
be registered in or transferred into its name as Trustee or into the
name of such nominee as it may direct, or it may retain them
unregistered and in form permitting transferability, but the books
and records shall at all times show that all investments are part
of the Trust Fund.
G. The Board is empowered, but is not required, to vote upon any
stocks, bonds, or securities of any corporation, association, or
trust and to give general or specific proxies or powers of attorney
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