(A) There is established and created a Fireman’s Pension Fund and a Board of Trustees of such Fireman’s Pension Fund in and for the town.
(B) The Fireman’s Pension Fund of the town shall be governed and managed by a Board of Trustees which shall contain seven members, two of whom shall be ex officio and five of whom shall elected. The two ex officio members of such Board shall be the President or Chairperson of the Town Council and the Chief of the Fire Department of said town. One of the members shall be a retired member of the Fire Department of said town and the remaining four members shall be active members of the Fire Department of said town. The first election of the retired member of the Board of Trustees of the Fireman’s Pension Fund shall be held on the second Monday in September, 1968 and an election shall be held on the second Monday in February, 1970 and biannually thereafter. The active members of said Board shall be elected at a meeting of the members of the Fire Department of said town, which election shall be held on the second Monday in September, 1968 and said election shall be held on the second Monday in February, 1969 and annually thereafter. At the first election of the active members said election shall be for staggered terms expiring on the second Monday in February of 1969, the second Monday in February of 1970, the second Monday in February of 1971 and the second Monday in February of 1972. After the initial election, one member shall be elected the second Monday of February of each year, commencing the second Monday of February of 1969 and annually thereafter for a term of four years.
(C) After the election of the members of such Board, said Board shall adopt such rules and by-laws as shall be necessary for the accomplishment of the purpose of said Board as set out by the acts establishing same being I.C. 36-8-7, and such Fireman’s Pension Fund shall be deemed to be fully established and created and shall possess such powers and exercise such rights and duties as are prescribed by the laws of the state relating to Fireman’s Pension Fund.
(1991 Draft Code, § 2-141) (Ord. 7-68, passed 7-22-1968)
Statutory reference:
1937 Firefighters Pension Fund, see I.C. 36-8-7-1 et seq.
1977 Firefighters Pension and Disability Fund, see I.C. 36-8-8-1 et seq.