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RESOLUTION NO. T4-056 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON LUTION ESTABLISHING AN AGGREEMENT BETWEEN THE CITY COI-INCIL THE FIRE RELIEF ASSOCIATION REGARDING MLINICIPAL CONTRIBUTIONS D ANNUAL BENEFIT INCREASES. WHEREAS, the City Council wishes to maximize the effectiveness of tax levy dollars; WHEREAS, the City Council recognizes that a f,rnancially solvent Fire Relief iation and Fund is essential to attracting and retaining quality, well-trained personnel: and WHEREAS, the City Council and the Fire Relief Association recognize that while a shake" agreement has been in place for more than a decade that circumstances have ged to such an extent that it is time for a new agreement; and WHEREAS, both the City Council and Fire Relief Association recognize that having an ment stipulated in a resolution; the terms of this arrangement can be modified by the City ncil at any time by rescinding this Resolution or replacing this Resolution with another; and V/HEREAS, the City Council will continue to budget at least $46,200 in the annual City get and authorize its transfer to the Relief Association if the fund is under I00% funded or the Municipal Contribution Formula requires a contribution, and WHEREAS, in the event said municipal contribution is not required the City Council orizes the sum of $46,200 to be transferred to the Community Reinvestment Fund, and WHEREAS, the City Council authorizes an increase to the annual benefit of $500 ctively raising the annual benefit from $5,800 to $6,300, and WHEREAS, the Fire Relief will make no request for an increase to the annual benefit for year 2075, and WHEREAS, subject to Council will review and may approve any change to the Fire ief annual benefit; and WHEREAS, the Fire Relief will annually provide a report to Council that highlights and ains the status of the Fire Relief association funding ratio, asset values, accrued liabilities revenue streams along with a copy of the current audit; and