AN ORDINANCE

NO ___________

An Ordinance providing for Government funding of a Death Benefit Escrow for the fiscal year beginning July 1, 2012:

---------------------------------------------------------------------------------------

WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia provided a Death Benefit Escrow Fund for employees; and

WHEREAS, Actuarial Consultants have evaluated the Death Benefit Escrow Plan and the investment return of 7% annum thus determined that the amount of $276,199 is required to fund the Plan for fiscal year beginning July 1, 2012. The amount to be prorated among the Consolidated Government of Columbus, Georgia, the Columbus Board of Water Commissioners, the Hospital Authority of Columbus, and the Columbus Airport Commission based on actual earnings of the active participants in the Plan for the previous fiscal year is as follows: Consolidated Government, 83.144% or $229,642; Columbus Board of Water Commissioners, 9.228% or $25,488, Hospital Authority of Columbus, 6.543% or $18,073 and Columbus Airport Commission, 1.085% or $2,996.

NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY ORDAINS:

That the following named agencies shall make the following contributions for fiscal year 2013 to the Finance Director of the Consolidated Government as their prorated share of the cost of the Death Benefit Escrow Fund by July 15th:

--------------------------------------------------------------------------------------

Introduced at a special meeting of the Council of Columbus, Georgia, held the 19th day of June, 2012; introduced a second time at a regular meeting of said Council held on the 26th day of June, 2012, and adopted at said meeting by the affirmative vote of _____ members of said Council.

Councilor Allen Voting __________
Councilor Baker Voting __________
Councilor Barnes Voting __________
Councilor Davis Voting __________
Councilor Henderson Voting __________
Councilor Huff Voting __________
Councilor McDaniel Voting __________
Councilor Thomas Voting __________
Councilor Turner Pugh Voting __________
Councilor Woodson Voting __________


_____________________________________________ ____________________________________
Tiny B. Washington, Clerk Teresa Pike Tomlinson, Mayor