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<br />UltUINANCE NO~..lo l,Q.:1,! <br /> <br />AN ORDINANCE TO TRANSFER $87,723 FROM THE FY 2009-2010 GENERAL <br />FUND TO THE FY 2009-2010 RETIREMENT FUND FOR THE PURPOSE OF <br />MAKING A ONE-TIME PAYMENT TO 81 PORTSMOUTH SUPPLEMENTAL <br />RETIREMENT SYSTEM AND PORTSMOUTH FIRE AND POLICE PENSION <br />RECIPIENTS WHOSE ANNUAL BENEFIT FALLS BELOW THE U.S. <br />DEPARTMENT OF HEAL TH AND HUMAN SERVICES 2009 POVERTY <br />GUIDELINES. <br /> <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br /> <br />1. That it hereby authorizes the transfer of $87,723 from the FY 2009-2010 <br />General Fund to the FY 2009-2010 Retirement Fund and appropriates said amount in the <br />FY 2009-2010 Retirement Fund. <br /> <br />2. That estimated revenues in the FY 2009-2010 Retirement Fund are <br />increased by $87,723. <br /> <br />3. That said funds shall be used to provide a one-time payment during FY <br />2009-2010 to 81 recipients of pension benefits from the Portsmouth Supplemental <br />Retirement System and the Portsmouth Fire and Police Retirement System whose annual <br />benefit falls below the U.S. Department of Health and Human Services 2009 Poverty <br />Guidelines. <br /> <br />4. That this ordinance shall take effect on the date of its adoption. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held <br />on April 27, 2010. <br /> <br />Teste: <br /> <br />City Clerk <br />