228589 ,
� �.
ORIGINAL TO CITY CLERK
CITY OF ST.� PAUL F,OENCIL NO. ������
OFFICE OF THE CITY CLERK
.
C NCIL RESOLUTION—GENERAL FORM
PRESENTED BY
COMMISSIONE DATF —
� WHEREAS, The Minnesota Mutual Life Insurance Company, by
letter dated March 30, 1966, has indicated to the City of Saint
Paul, pertinent to the City �nploye Pay Dependents ' Group Life
Insurance, Policy No. 2881-G, with said company, that the experience
under the aforesaid employe-pay group life covera e has resulted
in a dividend account balance in the amount of $2�,429.20; and
WHEREAS, the aforesaid information was presented to the
Health and Welfare and Insurance Committee meeting of May 9, �g66,
and the Committee, by motion unanimously adopted by the members
present, recommends to the City �ouncil that said Council authorize
by resolution that a portion of the aforesaid dividend b� left on
deposit with The Minnesota Mutual Life Insurance Company to draw
interest at the rate of 4� during the period from March 1, 1966
through February 28, 1967, and that a portion thereof equal to
�0� of the annual premium paid by each eligible employee during
the past policy year, in the approximate amount of �14,000, be
paid to those persons under said group who were premium-paying
insureds on February 28, 1966 and on March 1, 1g66 and who have
been continuously insured for six months prior to March l, 1g66
or who were continuously insured during the anniversary year to a
date at which they were compelled to retire by virtue of mandatory
retirement provisions of exisfent law; now, therefore, be it r�
RESOLVED, That effective as of March 1, 1g66, the aforesaid
�+0� of the premiums paid by each such insured described aforesaid,
� during the period from March 1, 1965 to February 28, 1966, the
total amount of all such refunds to eligible City employees,
„ includ.ing those employees covered during the anniversary year
N � who were compelled to retire by virtue of mandatory retirement
�. provisions of existent law being in, the approximate amount of
� D $14,000, be paid to those employees described in the preceding
° "o paragraph of this Resolution, such distribution to be made by
� o The Minnesota Mutual Life Insurance Company as soon as conveniently
� possible; be it �
0
�
o FINALLY RESOLVED; That the City Clerk be and he hereby is
directed to prepare a certified� copy of this Resolution and deliver
� � the same to The Minnesota Mutual Life Insurance Company as soon as
conveniently possible. p��
COUNCILMEN Adopted by the Council �ru'►Y � T 19��
. .
• as Nays V � p�pV 1 � 1966
�Ba�lg�ts" � lY1161(
Holland � A oved �` 19_
Loss
, n Favor
Meredith 1 �
��
� M$yor
A gainst 196�
�°°�T- MAY 21
Mr. President, Vavoulis I �PUBLISHED
�