ADOPTED 03/16/1999

RESOLUTION NO. R99-1464

A resolution appropriating four million three hundred thirty-four thousand four hundred seventy-eight ($4,334,478) dollars from the undesignated fund balance of the General Purpose School Fund of the General Services District to fund a one time contribution to the Metro Teachers’ Pension Plan in the 1998-99 operating budget of the Metropolitan Board of Public Education.

Whereas, the Metropolitan Board of Public Education has requested that its 1998-99 general operating fund expenditure appropritation be increased by four million three hundred thirty-four thousand four hundred seventy-eight ($4,334,478) dollars for the purpose of funding a one time expenditure to partially fund the contribution to the Metro Teachers’ Pension Plan; and

Whereas, Section 6.10 of the Charter of the Metropolitan Government of Nashville and Davidson County permits the Metropolitan Council to make appropritations in addition to those contained in the current operating budget from an existing unappropriated surplus in the fund to which it applies; and

Whereas, funding for this one time expenditure is available from the General Purpose School Fund of the General Services District.

Now, therefore, be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County:

SECTION 1. That the sum of four million three hundred thirty-four thousand four hundred seventy-eight ($4,334,478) dollars is hereby appropriated from the undesignated fund balance of the General Purpose School Fund of the General Services District to the 1998-99 operating budget of the Metropolitan Board of Public Education to fund a one time contribution to the Metro Teachers’ Pension Plan to meet the 1998-99 actuarial requirements of the Metro Teachers’ Pension Plan.

SECTION 2. This resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored By: Chris Ferrell & Ronnie Steine

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee Education Committee
Introduced:	March 16, 1999
Adopted:	March 16, 1999
Approved:	March 24, 1999
By: