1953 - 1999 (NS-001-NS-2415)
1986 (NS-1825 - NS-1882)
1/3/2012 1:03:47 PM
6/26/2003 10:08:07 AM
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ORDINANCE NO. NS- ]839 <br />Page Two <br /> <br />shall be established as a special fund for the purpose of <br />receiving, holding and disbursing amounts relating to the <br />Pension obligations of the City and shall not be used for <br />any other purpose. <br /> <br />Sec. 13-166 Deposit of Monies. <br /> <br /> The City shall deposit into the Special Pension <br />Obligations Fund, promptly upon the receipt thereof, all <br />amounts relating to the Pension Obligations of the City. <br />Such amounts shall include, without limitation, (a) all <br />gross revenues and amounts derived with respect to the <br />Annuities and (b) all amounts required to be paid by the <br />City to the Public Employees' Retirement System ("PERS") <br />organized and existing pursuant to the Public Employees' <br />Retirement Law of the State of California (constituting <br />Part 3 of Division 5 of the Government Code of the State <br />of California). All amounts deposited into the Special <br />Pension Obligations Fund shall be deemed to be special <br />funds derived with respect to the Pension Obligations <br />of the City, and shall be accounted for separately and <br />apart from all other monies, funds and accounts of the <br />City and shall not be used for any other purpose. <br /> <br />Sec. 13-117 Expenditure of Monies <br /> <br /> Amounts in the Special Pension Obligations Fund <br />shall be expended solely for the purpose of financing the <br />Pension Obligations of the City. <br /> <br />Sec. 13-118 Pledge and Allocation of Monies <br /> <br /> The City may pledge, and may grant a security <br />interest in and lien upon, all or any portion of the amounts <br />deposited into the Special Pension Obligations Fund for the <br />purpose of securing the payment of all or any portion of <br />the Pension Obligations of the City. <br /> <br />Sec. 13-119 Pension Obligations Defined <br /> <br /> As used in this Article, the term "Pension <br />Obligations" shall mean all obligations of the City to <br />finance the retirement system of the City, including but <br />not limited to (a) the obligations of the City to make <br />payment to the Public Employees' Retirement System pursuant <br />to the contract (the "PERS Contract") between the City and <br />PERS dated as of November 25, 1946, as amended from time <br />to time, and (b) the obligations of the City to pay install- <br />ments of the purchase price of the Annuities. <br /> <br /> <br />
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