§ 22-69. Purposes of pension fund.

Any of the funds in the police pension and retirement system, whether paid to the city as provided by this article, or appropriated by the city, or contributed by the police officers of the city, shall be used only for the following purposes:

(1)

For investments as authorized in section 22-127 of this article;

(2)

For the payment of allowances to injured and disabled police officers of this city;

(3)

For the payment of pensions for long service to retired meritorious police officers of this city;

(4)

For the payment of a pension to any spouse while single, and child or children under eighteen (18) years of age of any police officer eligible for a pension.

(5)

For any other purposes authorized in this article.

Such payments in any event shall not exceed the limits in this article provided.

(Ord. No. 742, § 17, 12-20-65)

State law reference

Similar provisions, 11 O.S. Supp. 1978, § 50-113.