The village shall maintain reserves and annually levy a tax sufficient to meet statutory requirements. Furthermore, there shall be deductions from the salaries and wages of all policemen at the rate prescribed by statute, starting from the time the Village Board of Trustees determines that the population of the Village exceeded 5,000 inhabitants. All of said moneys collected, together with any donations or gifts, shall be to the credit of the pension fund.
(Ord. 451-76, passed 4-20-76)