Chapter 4.46


4.46.010    Establishment of a firefighter’s pension fund.

4.46.020    Purpose.

4.46.030    Source of funds.

4.46.040    Disposition of assets when purpose is completed.

4.46.010 Establishment of a firefighter’s pension fund.

The finance director is authorized to establish a fund to be known as the firefighter’s pension fund. [Ord. 1999-12-083 § 3].

4.46.020 Purpose.

The purpose of this fund will be to account for the pension payments to firefighters (or surviving spouses) who have retired under state statutes that mandate city paid pension payments for life. [Ord. 1999-12-083 § 3].

4.46.030 Source of funds.

The source of funds to cover the pension payments and reserve requirements will be from operating transfers from the general fund, state shared fire insurance premiums, and property tax levies as allowed by state statute. [Ord. 1999-12-083 § 3].

4.46.040 Disposition of assets when purpose is completed.

Any assets remaining in this fund after all required expenses have been paid will be returned to the general fund and the firefighter’s pension fund shall be closed. [Ord. 1999-12-083 § 3].