The City Council shall annually levy and tax upon all the taxable property of the city at the rate on the dollar which will produce an amount which, when added to the deductions from the salaries or wages of police officers, and revenues available from other sources, will equal a sum sufficient to meet the annual requirements of the police pension fund. The annual requirements to be provided by such tax levy are equal to: (1) the normal cost of the pension fund for the year involved; plus (2) the amount necessary to amortize the fund's unfunded accrued liabilities as provided by ILCS Ch. 40, Act 5, § 3-127. The tax shall be levied and collected in the same manner as the general taxes of the city, and in addition to all other taxes now or hereafter authorized to be levied upon all property within the city.
(1993 Code, § 5-3-4) (Ord. 836, passed 4-1-1991)