TO THE RESIDENTS OF THE BOROUGH OF MIDDLETOWN
Notice is hereby given that the Borough Council of the Borough of Middletown will consider for adoption the following Ordinance at the Regular Business Meeting on May 2, 2017 at 7 P.M. in the Council Chambers of Middletown Borough Council located at Borough Hall, 60 West Emaus Street, Middletown, PA 17057.
ORDINANCE NO. ________
FOR THE YEAR 2017
AN ORDINANCE OF THE BOROUGH OF MIDDLETOWN AMENDING AND RESTATING THE BOROUGH OF MIDDLETOWN EMPLOYEES OTHER POST-EMPLOYMENT BENEFIT (OPEB) RETIREE BENEFITS PLAN AND AMENDING AND RESTATING THE DECLARATION OF TRUST OF THE BOROUGH OF MIDDLETOWN OPEB INTEGRAL PART TRUST
WHEREAS, Borough Council has reviewed certain items related to the long-term financial viability of the Borough; and
WHEREAS, Borough Council desires to establish a clear funding policy to fund OPEB benefits for its retirees and active employees and announce its intention to fund the OPEB Integral Part Trust.
NOW, THEREFORE, BE IT ORDAINED AND ENACTED by the Borough Council of the Borough of Middletown, Pennsylvania, as follows:
Section 1: The Borough hereby adopts the Borough of Middletown Employees Other Post-Employment Benefit (OPEB) Retiree Benefits Plan and the Borough of Middletown (OPEB) Integral Part Trust, both originally effective April 7, 2009.
Section 2: All ordinances or resolutions, or parts of ordinances or resolutions inconsistent with this Ordinance are hereby repealed.
ORDAINED AND ENACTED this _______ day of ___________________, 2017.
BOROUGH COUNCIL OF THE
BOROUGH OF MIDDLETOWN