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City to introduce $14 million emergency appropriation to cover police and fire severance liabilities
Summary
City staff introduced an ordinance seeking a $14,000,000 special emergency appropriation to fund contractually required severance liabilities tied to retirements of public safety employees; the repayment would be spread over five years.
City finance staff presented an ordinance to create a $14 million special emergency appropriation to pay contractually required severance liabilities resulting from retirements, primarily for police and fire personnel.
Staff said the appropriation would be paid in equal installments over five years beginning in 2026 at roughly $2,800,000 per year plus about 2.5% interest. The…
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