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This Section is not intended to, and shall not, create rights or entitlements of any kind in the establishment or funding of the fund, in amounts appropriated thereto or held therein in accordance with this Section, or in the disbursement or disposition of any such amounts, in favor of any member of the system or any other employee of the city. If the limitation on this Section stated in this Section shall be ineffective as a result of any existing or future provision of law or any final judicial or administrative determination, this Section shall be void and all amounts theretofor appropriated to and then held in the fund in accordance with this Section, and all interest and other income thereon, shall be transferred without further appropriation to the General Fund of the city.
(Ord. 1984 c. 1; CBC 1985 5-6.6)
In accordance with this Section, a separate sub- account shall be established and maintained in the fund into which shall be deposited and segregated all amounts on deposit on the effective date of this Section. All such amounts so deposited, and interest earnings thereon, are hereby designated in accordance with this Section to meet expected future pension costs payable with respect to employees of the Department of Health and Hospitals. All actions of the Collector-Treasurer and the Commissioner of Health and Hospitals heretofore taken in establishing such custodianship account, and the deposit therein during the fiscal year ended June 30, 1981, on account of pension costs of said Department in the prior fiscal year of cash and securities in the amount of $9,737,000 and the deposit therein during the fiscal year ended June 30, 1982, on account of pension costs of said Department in the prior fiscal year of $2,500,000, and the accumulation in said account of the interest earnings on such amounts, is hereby ratified and confirmed, and all such amounts shall be deemed, and are, transferred and appropriated as of their respective dates of deposit for the purposes of the fund and the sub-account therein designated for the Department of Health and Hospitals. The Collector-Treasurer and the Commissioner of Health and Hospitals are hereby authorized and directed to do all things and execute all instruments as may be required to transfer the aforesaid custodianship account to the fund and to establish it therein as a sub-account to be administered in accordance with the provisions of this Section.
(Ord. 1984 c. 1; CBC 1985 5-6.8)
Except for Subsection 5-6.6, inserted hereunder, the provisions of this Section are severable and if any provision hereof except said Section shall be held invalid in any circumstances, such invalidity shall not affect any other provision or circumstance.
(Ord. 1984 c. 1; CBC 1985 5-6.9)
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