Sec. 2-196. Investment of funds.
The retirement fund commission shall apply all appropriations,
interest and profits from any securities, bonds or other
evidences of debt held by them to the purchase of bonds or
certificates of debt of this city, of this state, of the United
States or of some other state of the United States or to the
purchase of any other securities which, under the laws of
this state, are designated and approved for the investment of
fiduciary funds. The accrued interest and dividends on such
securities shall be collected by the city treasurer when due and
deposited to the credit of the Retirement Fund. All such securities
or reinvestments of the same and the interest and
dividends thereon shall be reinvested according to the provisions
of this section; provided, that unless some other
provision is made by the city council for such payment, sufficient
funds shall be retained as cash in the fund to provide
for the payments under the retirement plan. (1-6-64.)
