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Session 1548, Minutes June 17, 1991 Page 7 Bill No. 8014 was given its secorxi read.i.rg. Bill NO. 8014 was given its third read.i.rg. Mr. Wagner m:wed that this bill be adopted as an ordinance. Mr. Schoaner secorrled the Irotion. Upon roll call, the following vote was reco:rded: AYES: eouncilmembers Wagner, Schuman, Schoamer, '!hc:arpson, an:i Mayor Majerus. NAYS: None. .ABSENT: eouncilmeInbers Price an:i Adams. Bill No. 8014 bec:ame Ordi- nance No. 5804. BILL NO. 8015 - AMENDING QJAPl'ER 25 MUNICIPAL CODE REIATING TO REl'IREMENl' AND PENSIONS BY REPEALING SECrION 25-10, AND ENACI'ING IN LIE(] 'lHEREX>F A NEW SEC- TION rro BE I<Na'm AS "SECrION 25-10. CX>NI'RIBJl'IONS F.RCM MEMBERS GENERALLY," SO AS rro DErnEASE THE EMPlOYEE I S ASSESSMENI' F.RCM 6% TO 5%. Bill No. 8015 was given its secord reading. Bill No. 8015 was given its third reading. Mr. Schoamer m:wed that this bill be adopted as an o:rdinance. Mrs. Schuman secorded the Irotion, adding she was pleased the City was able to do this fol- lowing the reduction last fall from 8% to 6%, giving unifonned enployees an additional 3% to use as they see fit. Upon roll call, the following vote was recorded: AYES: eouncilmembers Schuman, Schoamer, 'l11.arpson, Wagner, am Mayor Majerus. NAYS: None. ABSEN!': eouncilmembers Price an:i Adams. Bill No. 8015 bec:ame Ordinance No. 5805. BILL NO. 8016 - ORDERING THE IEVY AND FIXING THE RATE OF ".mXES TO BE OOIIECr- ED IN UNIVERSITY CITY FOR FISCAL YEAR 1991-92, TO PROVIDE FOR GENERAL REVENUE FOR A FREE IUBLIC LIBRARY. AND FOR A roLICE AND FIREMEN'S Rt;!'.J.!<tlt1ENT FUND. Mrs. Schuman m:wed to amerd Bill No. 8016 by changing the tax rate for the Police an:i Fi.rem:m's Reti.rem:mt Furrl frem five cents ($0.05) to six cents ($0.06) . Mr. Schoamer secorded the Irotion. '!he roll call vote was as fol- lows: AYES: eouncilmembers Schoamer, 'lhanpson, Wagner, Schuman, am Mayor Majerus. NAYS: None. ABSEN!': eouncilmembers Price am Adams. Bill No. 8016 (As.Amerxied) was given its secorxi read.i.rg. since the change in this bill was detennined to be substantial, the thi:rd reading will be delayed at least one week. Mr. Tim Hepler, 1069 Hanley, said during his years with the Police Department the tax rate for the Police am Fi.rem:m' s Reti.rem:mt Furrl was reduced from 37 cents to eight cents, an:i it appears it will I"lCM be reduced to six cents. He said there seemed to be same discrepancy last year regarding reports from the actuary about whether or not the Pension Furrl was adequately furxied; he was concerned that this year's report may also be inaccurate, an:i Irore Ironey may be needed to keep the plan solvent. He asked that either the actuary re-look at the plan, or have a study done by another actuary to substantiate current figures. He pointed out that once the rate is reduced, it requires an elec- tion to raise it again. Mayor Majerus noted that there is a tax rate roll- back after each reassessment, so the change in tax rates is not that extreme; also, the Council has an obligation to the City's taxpayers to keep the tax