§ 22-63. Appropriation.

Latest version.

(a)

The city may appropriate, for the use and benefit of the police pension and retirement system, a sum not exceeding ten (10) percent of the current annual salaries of its police officers. The sum or sums appropriated shall be paid to the pension and retirement system on or before June fifteenth of each fiscal year as other payments are made from municipal funds.

(b)

Before any such appropriation shall be made, the board of trustees of the police pension and retirement system shall make an estimate of the needs and furnish it to the city council at the time and in the manner that the departments of the city make their estimate of needs.

(Ord. No. 742, § 15, 12-20-65)

State law reference

Similar provisions, 11 O.S. Supp. 1978, § 50-109.

                    
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