As part of this chapter, the City agrees that the System shall provide the benefits set forth in the agreement between the Board and the City dated November 9, 2002. The passage and adoption of this chapter by the City is an official acceptance of said agreement and the financial obligations resulting from the administration of said benefit package. The City hereby assumes all liability for any unfundedness created or which may be created due to the acceptance of the benefit structure outlined in such agreement.
(Ord. 16-02. Passed 10-24-02.)