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<br />(/0' <br /> <br /> <br />.r <br /> <br />provi ded in thi s article. Said Board shall serve \'iithout salary. <br />. .. 0 <br /> <br />Section 4. . LIMIT'OF CONSTRIBUTION BY CITY The Board hereby <br />finds and determines that the city should use the power granted to it <br />under Chapter 139-49-20 CRS 1963, and does hereby elect to pay from the <br />general funds of the City, into the 'Policemens Contribution Pension <br />Fund created hereby, such sum monthly as shall not exceed 5% of the monthly <br />salaries of the total Police Department of the City. <br />Section 5. POLICE OFFICERS' CONTRIBUTION The members of the <br /> <br />Police Department shall from their respective monthly salaries contribute <br />.. <br /> <br />.. <br />into the Policemen's Contribution Pension Fund of the city, identical <br /> <br />percentages monthly of their respective monthly salaries so that the <br />contribution of the Police Department as a \'Iholeshall match the <br />contribution of the city. <br /> <br />Sectio~ 6. MUNICIPAL TREASURER CUSTODIAN OF FUNDS The Municipal <br />Treasurer of the city is hereby made the custodian of all of- the Pension <br /> <br />Funds and the monies belonging thereto. He shall be liable on his bond <br />as such Treasurer for the faithful performance of all the duties imposed <br />upon him by the provisions of CRS 139-49-1 through 139-49-25, 1963 <br /> <br />and as the same may be later amended, in relation to the Policemen's <br /> <br />Pension Fund, and for the faithful accounting of all monies and securities <br />which may come into his hands belonging thereto. He shall keep a separate <br />account thereof, which shall at all times show the true condition of <br /> <br />such fund. Said Treasurer, upon expiration of his term of office, <br /> <br />shall surrender and deliver to his successor all bonds and unexpended <br />monies or other property whiich may have come into his hands as Treasurer <br />of said fund. He shall, on or before April 1 of each year, certify to <br /> <br />the State Treasurer detailed financial statements, showing the complete <br /> <br />financial condition of its Policemen's Pension Fund, showing balances, <br /> <br />investments, and operating statements for the preceding fiscal year. <br /> <br />-2- <br /> <br />