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ORDINANCE. NO.:c�n j l – U y—O j AN ORDINANCE AMENDING THE PARAMETERS FOR THE RETIREMENT BENEFITS FOR THE MAYOR OF THE CITY OF BATESVILLE, ARKANSAS; TO PROVIDE FOR SPOUSAL BENEFITS; AND FOR OTHER PURPOSES. WHEREAS, under the authority granted by Arkansas Code Annotated § 24-12-123 a city of the first class may elect to provide for its mayors a retirement cost-of-living benefit and, WHEREAS, under the authority granted by Arkansas Code Annotated § 24-12-123 a city of the first class may elect to provide a spousal benefit upon the death of a retired mayor or mayor who has qualified for retirement; and, WHEREAS, it is the desire of the City Council to provide these retirement benefits to this mayor and all future mayors; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BATESVILLE, ARKANSAS: Section 1. Additional Retirement Benefits. That the retirement benefits in this ordinance are in addition to all retirement benefits conferred on the office of Mayor under the authority of Arkansas Code Annotated § 24-12-123. Section 2. Requirements for the Benefits. That a Mayor must meet the statutory requirements outlined under Arkansas Code Annotated § 24-12-123 in order to qualify for these retirement benefits. Section 3. Cost of Living Benefit. On January 1 of each year, if a retiree under Arkansas Code Annotated § 24-12-123 has been retired for at least twelve (12) full months, a cost-of-living increase of three percent (3%) will be added. Section 4. Spousal Benefit. On the death of any mayor who retired under the provisions of subsection (a) of Arkansas Code Annotated § 24-12-123, or any other acts of the General Assembly, or any mayor who dies in office after becoming eligible to retire under subsection(a) of this section or any other acts of the General Assembly, the spouse of the mayor married to the mayor for ten (10) years or longer shall receive one-half(1/2) of the retirement benefit the retired mayor was receiving or one-half(1/2) of the retirement benefit the mayor who died in office was entitled to receive. Said benefits shall cease upon the death or the remarriage of the spouse. Section 6. Repealer. All laws, ordinances, resolutions, or parts of the same that are inconsistent with the provisions of this ordinance are hereby repealed to the extent of such inconsistency.