HF 2925

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to appropriations; city of Osseo; offsetting 
  1.3             the consequences of certain unplanned increases in the 
  1.4             liabilities of the Osseo volunteer firefighters relief 
  1.5             association; appropriating money. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [APPROPRIATION; CITY OF OSSEO AND OSSEO 
  1.8   VOLUNTEER FIREFIGHTERS RELIEF ASSOCIATION.] 
  1.9      (a) The sum of $178,627 is appropriated from the general 
  1.10  fund to the commissioner of revenue for allocation as follows: 
  1.11     (1) $80,000 for deposit in the general fund of the city of 
  1.12  Osseo; and 
  1.13     (2) $98,627 for deposit in the special fund of the Osseo 
  1.14  volunteer firefighter relief association.  The amounts are to 
  1.15  offset the consequences of additional unplanned liabilities 
  1.16  incurred by the relief association following incorrect and 
  1.17  inappropriate representations by a relief association-retained 
  1.18  consultant upon the conversion of the relief association from a 
  1.19  monthly benefit pension plan to a lump sum pension plan. 
  1.20     (b) If the city of Osseo or the Osseo volunteer firefighter 
  1.21  relief association recovers in the course of litigation any 
  1.22  portion of the consequences of additional liabilities incurred 
  1.23  as described in paragraph (a) from the applicable consultant, 
  1.24  the amount of the recovery in excess of reasonable attorney fees 
  1.25  and costs of litigation up to the amount set forth in paragraph 
  2.1   (a) plus compound interest at the average investment performance 
  2.2   rate of the treasurer's cash pool from the date of the 
  2.3   appropriation to the date of repayment must be repaid to the 
  2.4   general fund. 
  2.5      Sec. 2.  [EFFECTIVE DATE.] 
  2.6      Section 1 is effective on the first day of the month next 
  2.7   following final enactment.