Chapter 3.28
UNEMPLOYMENT INSURANCE REIMBURSEMENT CONTINGENCY FUND
Sections:
3.28.020 Transfer of moneys into fund.
3.28.040 Investment permitted.
3.28.010 Established.
The unemployment insurance reimbursement contingency fund, to be known as the UIR contingency fund, is established for the purpose of accumulating money for reimbursement of any employment security benefits paid by the state to eligible former employees of the city, based upon services performed for the city. The fund shall be administered as provided in this chapter. (Ord. 327, 1978).
3.28.020 Transfer of moneys into fund.
(1) Moneys shall be transferred to the unemployment insurance reimbursement contingency fund from all city funds on a monthly basis, at the rate of .75 percent of gross salaries and wages paid to all regular full-time, regular part-time and temporary employees for the year 1997, and thereafter, at the same rate or at such rate as may be authorized by budget appropriation.
(2) No moneys shall be transferred into the UIRC fund if the total amount accumulated in the fund then equals or exceeds the equivalent of thirty-seven and one-half cents per $1,000 of assessed valuation of property within the city. (Ord. 629 § 1, 1996; Ord. 474 § 1, 1987; Ord. 327, 1978).
3.28.040 Investment permitted.
Nothing in this chapter shall preclude moneys of the UIR contingency fund from being invested in accordance with Chapter 3.04 NPMC for the specific benefit of the UIR contingency fund. (Ord. 327, 1978).