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• <br /> ORDINANCE NO. 2560-01 <br /> t44 Ctigli <br /> AN ORDINANCE amending the age reduction language of the life insurance and the <br /> accidental death and dismemberment insurance granted the Appointive Officers, <br /> Classified Non-Represented Employees, and Elected Officials, of the City of Everett and <br /> amending Section 1.B.3 and Section 3.A.4 of Ordinance No. 1594-89 (EMC 2.74.020), <br /> and repealing Section 1.B.4 and Section 3.A.6 of Ordinance No. 1594-89 (EMC <br /> 2.74.080). <br /> THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: Section 1.B.3 of Ordinance No. 1594-89 which reads as follows: <br /> The face amount of life insurance and the principal sum of accidental death and <br /> dismemberment insurance for an Appointive Officer under age 70 shall be equal <br /> to two times the Appointive Officer's basic annual earnings, rounded to the next <br /> higher multiple of$1,000, if not already a multiple of$1,000 plus $2,000. The <br /> maximum face amount and maximum principal sum shall each be $150,000. <br /> is hereby amended to read as follows: <br /> The face amount of life insurance and the principal sum of accidental death and <br /> dismemberment insurance for an appointive officer shall be equal to two times the <br /> Appointive Officer's basic annual earnings, rounded to the next higher multiple of <br /> $1,000, if not already a multiple of$1,000 plus $2,000. The maximum face <br /> amount and maximum principal sum shall each be $150,000. <br /> Section 2: Section 1.B.4 of Ordinance No. 1594-89 which reads as follows: <br /> The face amount of life insurance and the principal sum of accidental death and <br /> dismemberment insurance for an Appointive Officer age 70 or over shall each be <br /> equal to one-half the applicable amounts determined above. <br /> is hereby repealed. <br /> Section 3: Section 3.A.4 of Ordinance No. 1594-89 which reads as follows: <br /> The face amount of life insurance and the principal sum of accidental death and <br /> dismemberment insurance for a Councilmember under age 70 shall be at an <br /> amount equal to two times the Councilmember's basic annual earnings, rounded <br /> to the next higher multiple of$1,000, plus $2,000. The maximum face amount <br /> and maximum principal sum shall each be $150,000. <br />