The Police Pension Fund Association shall keep full and accurate accounts of all its transactions. It shall have full power to make rules for the transaction of its business, the application of its funds and its time and place of meeting. The Association shall meet at least once a month at a stated time and at such times as it may designate for the transaction of such business as may properly come before it. All meetings shall be open to the public. A majority of the Association shall have the power to transact business. All incidental expenditures necessary to the transaction of the business of the Association shall be provided for from the Police Pension Fund. No money, except as heretofore set forth, shall be paid out of the Pension Fund, except for the purpose of pensions and increments for members of the Department of Police and other officers contemplated in this chapter. The Treasurer of the Association shall give a surety bond to the City, in a sum of not less than double the probable amount of money that will come into his or her hands, for the faithful performance of his or her duties. The premium on such bond shall be paid out of the Pension Fund. The Association shall make an annual report to Council on the first Monday of January of each year. The report shall give an account of all receipts and disbursements of the Fund and of such other matters as are properly embodied in such report.
(Ord. 3785. Passed 6-4-68.)