The Police Officers’s Pension and Relief Fund shall be maintained as follows.
(A) By an annual levy of ($0.01) on each $100 of all real and personal property as listed for taxation in the city.
(B) From each member of the Police Department there shall be assessed and collected, each month, the sum of 6% of the actual salary or compensation of such member, and the amount so collected shall become a regular part of the Police Officers’s Pension and Relief Fund.
(C) The Board of Trustees is authorized to take by gift, grant, devise or bequest any money, or real or personal property upon such terms as to the investment and expenditure thereof, as may be fixed by the grantor, or determined by the trustee.
(Prior Code, § 143.21)