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5. OLD BUSINESS <br />one. <br />6. NEW BUSINESS <br />a. Pension Plan: Mr. Ashenfelter advised the <br />Commission has been considering alternatives to the <br />Pension Plan the staff has at present, and have now <br />come to a decision. <br />President Helmen said the Pension Committee, formed of <br />two f our Commission members, has spent a great deal <br />of time analyzing the employees' retirement fund called <br />P.E. .F., which is a State Plan. Most of the state and <br />governmental agencies are a part of this plan. The two <br />insurance companies' plans reviewed were: <br />1) Continental Assurance Company <br />2) Prudential Insurance Company <br />After considerable study and research between the <br />vari us plans, President Helmen said the Committee's <br />judg ent and recommendation was that the Commission <br />acce t the plan of the Continental Assurance Company. <br />This requires a Resolution, and the number assigned is: <br />No. 382. <br />Mr. 4iggins moved for the adoption of Resolution No. <br />382, which is for the acceptance of the Continental <br />Assurance Company's Pension Plan, as recommended by <br />the ension Committee. Motion seconded by Mr. Wade, <br />and inanimously carried. <br />CONTINENTAL ASSURANCE <br />COMPANY'S PENSION PLAN <br />ADOPTED, RESOLUTION <br />NO. 382 <br />Hotel -Motel Tax Legislation: Mr. Ashenfelter COMMISSION FAVORS <br />said a request came in the previous day to lend guidance LEGISLATION TO <br />to t e hotel -motel people in town regarding a 3% state ADOPT STATUTE <br />tax hich might be levied against them. <br />Mr. <br />up a <br />and <br />have <br />of a <br />play <br />tax <br />Coun <br />to t <br />of a <br />whet <br />must <br />Truce C. Hammerschmidt said the objective is to set <br />authority through a. board appointed by the Mayor <br />perhaps the Circuit Court. These members would <br />power to issue revenue bonds for the construction <br />Civic Center and exhibition building for the dis- <br />of industrial and cultural arts. The 3% state <br />:ollected from the motels and hotels in St. Joseph <br />:y by the State of Indiana would, in turn, be paid <br />ie authority. Ft. Wayne is implementing this type <br />:t promulgated for Allen County. It is questionable <br />ier this Act applies to St. Joseph County and this <br />be clarified. <br />-5- <br />