The Board of Trustees of the Policemen’s and Firefighter’s Pension Fund shall have the power to draw such pension from the treasury and may invest the same, or any part thereof, in the name of the Board of Trustees of the Policemen’s and Firefighter’s Pension Fund or nominee name as provided by KRS 286.3-225, in interest-bearing bonds of the United States or the State of Kentucky, or any county or city in the state, or in any securities in which trustees or guardians are permitted to invest, trust, or guardianship funds under the laws of this state, and all such securities shall be deposited with the Treasurer of the city, as ex officio treasurer of the Board and shall be subject to the order of the Board. Both the principal and interest of the pension fund shall be applicable to the payment of pensions under KRS 95.761 through 95.785.
(‘74 Code, § 2-176) (Ord. passed 3-5-43)
Statutory reference:
For similar provisions under state law, see KRS 95.772