The purpose of this fund is to provide retirement annuities and disability benefits for the members of the Police and Fire Departments who become aged or otherwise incapacitated and widows' annuities and other benefits to the dependents of such members to the end that such members may accumulate reserves for themselves and their dependents to meet, without prejudice or hardship, the hazards of old age, disability, death, and termination of service, thereby encouraging qualified personnel to enter and remain in the service of such departments.
(Ord. 87-26, passed 7-28-87)