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<br />April 8. 2008 <br /> <br />Staff Recommends: Adoption of ordinance. Vision Principle: A Robust and <br />Prospering Economy. <br /> <br />Next Steps: <br />. Upon City Council adoption the personal property tax relief percentage will be <br />established at 52% for calendar year 2008. <br /> <br />Motion by Mr. Moody, and seconded by Ms. Randall, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br />"ORDINANCE ESTABLISHING A PERSONAL PROPERTY TAX RELIEF <br />PERCENTAGE OF 52% FOR CALENDAR YEAR 2008 PERSONAL PROPERTY TAX <br />BILLS." <br /> <br />Ayes: Heretick, Moody, Psi mas, Randall, D. Smith, Holley <br />Nays: None <br /> <br />08 - 190 - Adoption of an ordinance to amend Chapter 30 of the Code of the City of <br />Portsmouth, Virginia (2006) by amending Section 30-237 thereof to correct a clerical <br />error pertaining to service retirement allotments within the Portsmouth Fire and Police <br />Retirement System. Vision Principle: Bold New Directions. <br /> <br />Background: <br />. Portsmouth maintains two closed retirement systems, the Portsmouth Fire and <br />Police Retirement System ("PFPRS") and the Portsmouth Supplemental Retirement <br />System ("PSRS"). <br />. A clerical error in Ordinance 1994-40, adopted on May 1 0, 1994, amending <br />section 30-237(b) of the PFPRS retirement code incorrectly referred to City Code <br />sections 30-119,30-121,30-122,30-124,30-125 and 30-127 which are applicable only <br />to the PSRS , rather than to the PFPRS. <br />. Prior to the adoption of Ordinance 1994-40, Section 30-237(b) referred to the <br />correct sections (30-239, 30-241, 30-243, 30-244, 30-245, and 30-246). <br /> <br />Discussion: <br />. In order to prevent confusion and possible misinterpretation of the retirement <br />code, this clerical error needs to be corrected. <br />. This matter has been discussed with the Retirement Trustees, and they <br />unanimously voted to recommend approval. <br /> <br />Financial Impact: <br />. No financial impact. <br /> <br />Staff Recommends: <br />Adoption of proposed ordinance. Vision Principle: Bold New Directions. <br /> <br />Next Steps Following Council Action: <br />. Transmit amendment to Municipal Code Commission for inclusion In a <br />supplement to the City Code. <br /> <br />1. Ronnie Davis, 3820 High Street, asked how this change would affect the Fire and <br />Police retirement system and requested that this item be deferred. <br /> <br />Motion by Mr. Moody, and seconded by Ms. Psi mas, to defer consideration of <br />item 08-190 to the meeting of May 27,2008, and was adopted by the following vote: <br /> <br />Ayes: Heretick, Moody, Psi mas, Randall, D. Smith, Holley <br />Nays: None <br />