This pension plan is maintained for the exclusive benefit of eligible employees of the city, or their beneficiaries, for the purpose of distributing to such eligible employees or their beneficiaries the corpus and income of the funds accumulated under this pension plan. Under this pension plan, it is impossible, prior to the satisfaction of all liabilities with respect to such eligible employees and their beneficiaries, for any part of the corpus or income of this pension plan to be used for, or diverted to, purposes other than the exclusive benefit of such eligible employees and their beneficiaries.
(Ord. 3148, passed - -1990)