Section 855.404 - Municipality Expense Contribution(a) Each participating municipality shall pay to the retirement system an expense contribution prescribed in accordance with this section.(b) The board of trustees, before January 1 of each year, shall set the rate of the contribution necessary to provide an amount required to pay the difference between: (1) the estimated administrative expenses for the following year; and(2) the anticipated revenue, from sources other than municipality contributions, to be used for the expenses of the year as adjusted for a surplus or deficiency existing on January 1 of that year.(c) The rate set by the board of trustees under Subsection (b) may not exceed 50 cents a month for each member.(d) The board of trustees shall certify the rate set under Subsection (b) to each participating municipality before January 1 of the year for which the rate is set.Tex. Gov't. Code § 855.404
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. 9/1/1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.404 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. 9/1/1989.