02/05/2013 Resolutions 2013-26 (A) Resolution #2013-26(A) was not approved by the City Council at their February 5, 2013
City Council meeting.
RESOLUTION 2013-26(A)
WHEREAS, Article 10 of Chapter 16 of the Nebraska Revised Statutes sets forth
the laws governing the pensions of police officers of First Class Cities; and
WHEREAS, the Police Pension Committee met on Friday, February 1, 2013 and
by a vote of four to one approved a recommendation to the Grand Island City Council regarding
the lump sum pension benefit for retiree, Captain Peter Kortum; and
WHEREAS, said recommendation is for the Grand Island City Council to accept
the amount of Seven Hundred, Eighty-Three Thousand, Nine Hundred, Eight Dollars and Sixty
Cents ($783,908.60) as the average of three(3) quotes obtained for annuities for Captain
Kortum; and
WHEREAS, the financial obligation of the City of Grand Island in meeting the
above stated recommendation is Two Hundred, Sixty-One Thousand, Five Hundred, Eleven
Dollars and Eighteen Cents ($261,511.18),
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL
OF THE CITY OF GRAND ISLAND, NEBRASKA,
That the City Council accepts and adopts the recommendation of the Police Pension Committee
and directs the City disburse the amount stated above as its financial obligation to meet that
recommendation.
Adopted by the City Council of the City of Grand Island, Nebraska, February 5, 2013.
Jay Vavricek, Mayor
Attest:
RaNae Edwards, City Clerk
Approved as to Form 0
February 5,2013 0 City errney