§ 35.55. PAYMENTS TO PENSION FUND; DISBURSEMENTS; INSUFFICIENT FUNDS.
Latest version.
(A) The officers of the city designated by law to draw warrants on the Finance Director shall, on request, in writing by the Board of Trustees of the Pension Fund, draw warrants on the Finance Director payable to the treasurer of the Board of Trustees of the Pension Fund for all funds belonging to the Pension Fund.
(B) Moneys ordered paid from the Pension Fund to any person shall be paid by the Treasurer of the Board of Trustees only upon warrant signed by the President of the Board of Trustees and countersigned by the secretary. No warrant shall be drawn except by order of the Board of Trustees duly entered on the records of the proceedings of the Board of Trustees.
(C) If, at any time, there is not sufficient money in the Pension Fund to pay each beneficiary the full amount per month to which he or she is entitled, an equal percentage of the monthly payments due shall be paid to each until the Pension Fund is so replenished as to warrant payment in full to all beneficiaries.
