1993-002ORDINANCE NO. 93- 2
AN ORDINANCE REGARDING DEFERRED COMPENSATION
FOR THE VILLAGE MANAGER
WHEREAS, Section 2.08.050 of the Municipal Code of the Village of
Buffalo Grove requires that the Board of Trustees shall fix from time to time
the compensation of the Village Manager by Ordinance or Resolution; and,
WHEREAS, the Village Board has established a deferred compensation
program for the Village Manager through Ordinance No. 88 -02; and,
WHEREAS, the Village Board is desirous of increasing the deferred
compensation program for the Village Manager.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD
OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE
COUNTIES, ILLINOIS that:
1. An amount equalling 7.65% of the Village Manager's total direct
compensation authorized January first of each year, shall be paid
by the Village into the Village Manager's Deferred Compensation
Account. The current authorized Village of Buffalo Grove
deferred compensation program is the ICMA- Retirement Corporation
(ICMA -RC) .
2. This increase in deferred compensation shall be effective January
1, 1993.
3. This Ordinance shall be in full force and effect upon passage.
This Ordinance shall not be codified.
AYES:- 5 - Reid, Kahn, Rubin, Braiman, Hendricks
NAYES: 0 - None ABSENT:1 - Marienthal
PASSED: January 4 1993
APPROVED: January 4 1993
ATTEST:
� I • 1a1Nta- u'^'cc'ti'�
VillAgh Clerk
VILLAGE OF BUFFALO GROVE
ORDINANCE NO. �a
ADOPTED BY THE PRESIDENT
AND BOARD OF TRUSTEES OF THE VILLAGE
Of ,/BUFFALO GRO
THIS 6DAY OF 19 !/.
Published in pamphlet form by authority of the
President and Board of Trustees of the Village
of Buffalo -ove, Cook & ake Counties, Illinois,
this Buffalo
of ��� 19�
illage-Clerk
By.
eputy Village Clerk:.
ORDINANCE NO. 93-2
AN ORDINANCE REGARDING DEFERRED COMPENSATION
FOR THE VILLAGE MANAGER
WHEREAS, Section 2.08.050 of the Municipal Code of the Village of
Buffalo Grove requires that the Board of Trustees shall fix from time .to time
the compensation of the Village Manager by Ordinance or Resolution; and,
WHEREAS, the Village Board has established a deferred compensation
program for the Village Manager through Ordinance No. 88 -02; and,
WHEREAS, the Village Board is desirous of increasing the deferred
compensation program for the Village Manager.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD
OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE
COUNTIES, ILLINOIS that:
` 1. An amount equalling 7.65% of the Village Manager's total direct
compensation authorized January first of each year, shall be paid
by the Village into the Village Manager's Deferred Compensation
Account. The current authorized Village of Buffalo Grove
deferred compensation program is the ICMA- Retirement Corporation
( ICMA -RC) .
2. This increase in deferred compensation shall be effective January
1, 1993.
3. This Ordinance shall be in full force and effect upon passage.
This Ordinance shall not be codified.
AYES:- 5 - Reid, Kahn, Rubin, Braiman, Hendricks
NAYES: 0 - None ABSENT:1 - Marienthal
PASSED: January 4 1993
APPROVED: January 4 1993
APP R OVED:
ATTEST:
Vill Clerk
Village President