§ 2.64.080 — Board of trustees—Administration and disbursement of funds—Meetings—Recordkeeping and reports

2.64.080 - Board of trustees—Administration and disbursement of funds—Meetings—Recordkeeping and reports.

The board shall have charge of and administer such pension fund, directing the safekeeping or investment thereof, and ordering payments therefrom in accordance with this chapter. It shall hold regular monthly meetings and such special meetings as may be called in accordance with rules to be adopted by it. It shall keep a record of its proceedings and shall promptly after each meeting send to the comptroller of the city the applications for pension fund benefits approved at each meeting of the board signed by the secretary. No money of such fund shall be disbursed for any purpose without a majority of a quorum of board members, which shall be a yea and nay vote entered upon the minutes of the board. The comptroller of the city shall report annually to the city council on the condition of such fund and the receipts and disbursements therefrom. All records of the board shall be open to public inspection.

(Ord. 9188 § 3, 1987: prior code § 17-2(h) (part))