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AN ORDiNANCE AMENDING CHAPTER 2.62 OF THE UNIVERSITY CITY MUNICIPAL <br />CODE, RELATING TO THE POLICE AND FIREFIGHTER'S RETIREMENT SYSTEM, BY <br />AMENDING SECTIONS 2.62.020 AND 2.62.152 AND ADDING NEW SECTION 2.62.052 <br />RELATING TO THE AUTHORIZATION OF LOANS TO EMPLOYEES FROM THEIR <br />INVESTMENT ACCOUNTS AND COMPLIANCE WITH CERTAIN REQUIREMENTS OF <br />THE INTERNAL REVENUE CODE AND CONTAINING AN EMERGENCY CLAUSE. <br /> <br />BE IT ORDAINED BY THE COUNCIL OF THE CITY' OF UNIVERSITY CITY, MISSOURI <br />AS FOLLOWS: <br /> <br />Section 1. Chapter 2.62 of the University City Municipal Code, relating to the police and <br />firefighter's retirement system, is hereby amended as follows: <br /> <br />1. Section 2.62.020 is repealed and a new section to be known as "Section 2.62.020 <br />Definitions." is enacted in lieu thereof, so that said section, as so amended, shall read as follows: <br /> <br />2.62.020 Definitions. <br /> <br />A. As used in this chapter: <br /> <br />"Base salary" means the highest monthly salary according to the salary range, as <br />contained in Section 1, Schedule B of the payroll ordinances then in use for a police <br />officer and firefighter or paramedic firefighter, plus any salary increase because of twenty <br />(20) years of service. If the amounts for such police officer and firefighter or paramedic <br />firefighter (whichever is the highest salary of the fire group) are not the same, the mean of <br />the two amounts shall be used as the base salary herein. <br /> <br />"Board of trustees" or "board" means and refers to the board of trustees of the police and <br />firemen's retirement fund established pursuant to Chapter 2.50. <br /> <br />"Compensation" means the wage or salary paid an employee for any period excluding <br />expense allowances, but including employee contributions to the police and firemen's <br />retirement fund treated as employer contributions under Section 2.62.050. <br /> <br />"Service" means the time employed in either the police department or the fire department, <br />or a combination of the two; and such employee has contributed to this uniformed <br />pension plan during such time. <br /> <br />"Widow" means the spouse of a member at the date of his or her retirement or at the date <br />of his or her death if he or she dies before retirement. <br /> <br />1564144.01 <br /> <br /> <br />