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ORDINANCE NO. 217 <br /> AN ORDINANCE CONCERNING POLICEMEN' S PENSION FUNDS. <br /> PREAMBLE; <br /> WHEREAS, by various legislative Acts of the General Assembly of <br /> Colorado, the State has passed statutes providing for pension funds <br /> for policemen, and by Chapter 205 of the Session Laws of 1937 the <br /> pecuniary benefits and moneys arising from the impostion of a mill <br /> levy tax by the State on all of the taxable property in the State , <br /> were extended to all cities and incorporated towns regardless of <br /> population, and therein specified that such benefits, as to incor- <br /> porated towns, may only be used to pay indemnities or benefits to <br /> Marshals or their dependents if such marshal is injured, incapaeia <br /> tated or killed while performing police duties and restricted the <br /> use of such benefits to marshals whose police duties occupy at least <br /> eighty per cent. of their time; and, <br /> WHEREAS, by such legislative Act of 1937 it states that there is <br /> thereby "created and established a Board of Trustees of the Police- <br /> men' s Pension fund, " but without setting forth or providing for the <br /> composition of the membership of such Board and without providing <br /> any rules or regulations as to the authority and power of a Board of <br /> Trustees of such Fund or limitations upon it, which an incorporated <br /> town may form for the purpose of handling and disbursing the benefits <br /> as so limited by such Act, and it appearing to be incumbent upon the <br /> Town to make formal and proper provision for a Board of Trustees of <br /> such funds, as may be alloted to it under said Act and for the ad- <br /> ministration of such Fund, by a duly enacted ordinance. <br /> THEREFORE'; <br /> BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF <br /> LOUISVILLE, COLORADO: <br /> SECTION 1. There is hereby created and established a Board of <br /> Trustees of the "Policemen' s Pension Fund, " hereinafter designated as <br /> the "Pension Board, " to be composed of the Mayor, Town Clerk and <br /> Town Treasurer, of which Board the Mayor shall be chairman and the <br /> Town Clerk its secretary and the Town Treasurer shall be the <br /> Treasurer and custodian of such funds. They shall receive no com- <br /> pensation for their services as members of such Pension Board. The <br /> Board may meet at its discretion upon the call of the Mayor-chairman. <br /> SECTION 2. The Town Clerk as the Clerk of such Board shall <br /> keep a complete and accurate written record of the actions and official <br /> doings of the Pension Board in a book provided for such prupose and <br /> which shall be a part of the Town records and open at all reasonable <br />