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EJC:k-1 02/07/86 ORDINANCE NO. NS-]839 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SANTA ANA ADDING ARTICLE XIII TO CHAPTER 13 OF THE SANTA ANA MUNICIPAL CODE ESTABLISHING THE SPECIAL PENSION OBLIGATIONS FUND AND PRESCRIBING THE PURPOSES AND USES THEREOF, AND DETERMINING THAT PURCHASE OF ANNUITIES CONSTITUTES A PENSION OBLIGATION OF THE CITY THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES ORDAIN AS FOLLOWS: SECTION 1. Declaration of Public Uses and Purposes. The City Council hereby finds and determines that the financing of the pension obligations of the City and the establishment of a special fund for the purpose of receiving, holding and disbursing amounts relating to such pension obligations, serve the public purposes of the City. The City Council further hereby finds and determines that the purchase of annuities with respect to beneficiaries under the City's pension program, for the purpose of financing a portion of the City's obligations under such pension program, constitutes a proper exercise of the powers of the City with respect to its obligations relating to such pension program and serves the public purpose of the City. SECTION 2. Municipal Affair. The City Council hereby finds and determines that the activ- ities set forth in Section 1 of this Ordinance, are municipal affairs, necessary and approprite to a municipal corporation and the general welfare of its inhabitants, and are not prohibited by the Constitution of the State of California or by the City Charter. ARTICLE XII. SPECIAL PENSION OBLIGATIONS FUND Sec. 13-115 Creation of Special Pension Obigations Fund. There is hereby created and established the Special Pension Obligations Fund, which shall be held and administered by the Director of Finance, the City Manager and the City Attorney as custodians. The Special Pension obligations Fund