HomeMy WebLinkAboutOrdinance 2005-016
ORDINANCE NO. 2005-016
AN ORDINANCE OF THE CITY OF OCOEE, FLORIDA,
RELATING TO THE CITY OF OCOEE MUNICIPAL
POLICE OFFICERS' AND FIREFIGHTERS'
RETIREMENT TRUST FUND; AMENDING ORDINANCE
NUMBER 96-20, AS SUBSEQUENTLY AMENDED;
AMENDING SECTION 4, FINANCES AND FUND
MANAGEMENT; REPEALING ALL ORDINANCES IN
CONFLICT HEREWITH AND PROVIDING AN
EFFECTIVE DATE.
SECTION 1: Authority. The City Commission of the City of Ocoee has the authority
to adopt this ordinance pursuant to Article VIII of the Constitution of the State of Florida and
Chapter 166, Florida Statutes.
SECTION 2: That Ordinance No. 96-20, adopting the amended and restated City of
Ocoee Municipal Police Officers' and Firefighters' Retirement Trust Fund, as subsequently
amended, is hereby further amended by amending Section 4, Finances and Fund Management,
subsection, B.(5)(c), to read as follows:
B.
(5)
(c)
The Board shall not invest more than five percent (5%) of its assets
in the common stock, capital stock, or convertible securities 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
securities at eest market exceed sHay seventy percent ~ (70%)
of the assets of the Fund.
SECTION 2. Repeal of Ordinances. All ordinances or parts of ordinances in
conflict herewith are hereby repealed.
SECTION 3. Effective Date. This ordinance shall take effect upon second reading
and adoption.
PASSED AND ADOPTED this lBnt day ofOcTC:)~
,2005.
ATTEST:
APPROVED:
CITY OF OeOEE, FLORIDA
(SEAL)
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ADVERTISED October 9,2005.
READ FIRST TIME October 4,2005.
READ SEeOND TIME AND ADOPTED
October 18, 2005.
FOR USE AND RELIANCE ONLY BY
THE CITY OF OCOEE, FLORIDA
APPROVED AS TO FORM AND LEGALITY
THIS q day of NrNPM ~r ,2005.
eHRISTIANSEN & DEHNER, P.A.
Special eounsel
BY:~ "",-0.1",,,-,,/\
APPROVED BY THE OeOEE eITY
COMMISSION AT A MEETING HELD
ON October 18, 2005, UNDER
AGENDA ITEM NO. 6
-
FOR USE AND RELIANCE ONLY BY
THE CITY OF OCOEE, FLORIDA.
APPROVED AS TO FOR?\1 tND LEGALITY
THIS I K day of {j (. Jl> ~er- ,2005.
FOLEY & LARDNER LLP
BY: iJvJs; ~
City Attorney
noc \ocoee\pt\06-05. ord
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