Any officer or employee of the City of Los Angeles, as well as an annuitant as heretofore defined in Section 4.203(a) hereof, may authorize the purchase, by the City Treasurer, from trust funds derived through voluntary deductions of United States Savings Bonds or similar United States obligations, on behalf of and to the credit and for the issuance to such officer, employee, or annuitant.
The authorization for such deduction shall be in such form as the City Controller may determine, shall be signed by the officer, employee, or annuitant, and delivered to the City Controller and, thereafter, and until revoked or cancelled by such officer, employee or annuitant, shall be effective as to each and every pay period. Each pay period upon which any deductions are made as authorized herein shall be accompanied by a check or demand upon the General Payroll/Reimbursement Fund or the Retirement or Pension Fund against which such payroll, retirement or pension roll is issued in favor of the “Employees’ Savings Bonds Trust Fund” hereinafter established by this article.
SECTION HISTORY
Based on Ord. No. 85,979.
Amended by: Ord. No. 144,546, Eff. 5-3-73.