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Custodian of retirement fund - Payment.

San José Municipal Code § 3.24.320
in effect
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3.24.320 - Custodian of retirement fund - Payment. A. Except as provided in subsection B., the city director of finance is the sole custodian of the retirement fund, subject to the exclusive control of the board as to administration and investment. All payments from the fund shall be made in the manner required for the disbursement of other public funds, but only upon authorization of the board. B. The board may enter into contractual arrangements with California banks or with national banking associations to provide master custody services with respect to the assets of the retirement fund. Such contracts shall be entered into in the name of the board of administration for the federated city employees retirement system. (Prior code § 2904.55; Ord. 25092.)
Source: City of San José, Municipal Code (Municode Library, library.municode.com)URL: https://library.municode.com/ca/san_jose/codes/code_of_ordinances?nodeId=TIT3PE_IIREPL_CH3.24RESYSUJU11951_PT4REFU_3.24.320CUREFUAYFetched: 11/1/2026

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