A police officers’ pension fund and a firefighters pension fund shall be and the same are hereby confirmed and established in the City of Newton, and in accumulating and maintaining such funds, such city shall:
(a) Accept gifts, grants, bequests, gratuities or any other money and credit the same to the pension fund designated by the donor;
(b) Levy an assessment against each officer and member of each department equal to seven percent of his or her monthly salary Or compensation, same to be deducted from the regular payroll and to be transferred into said pension fund, beginning July 1, 1947;
(c) Place into said funds the proceeds of all lost or stolen securities, money or personal property which shall remain unclaimed in possession of any department of the city for six months, together with the proceeds of all unclaimed or confiscated property of any nature which shall have been in the custody of the police department of a period of six months, and the city is hereby authorized to sell at public auction such property and place it into said pension funds in equal shares;
(d) Carry forward the balance in said funds at the close of each budget year as revenue for the next ensuing year;
(e) Transfer into said fund any proceeds from any municipally owned utility at the discretion of the governing body;
(f) Levy annually at the time for the levying of taxes for city purposes and in addition to other taxes authorized or limited, a tax upon all of the taxable tangible property in the city of not to exceed one mill for each fund to maintain the said pension funds at a level to continue, maintain and pay all pension and disability requirements actual or anticipated for the ensuing year, and to maintain a reserve in said pension funds as is by laws of the State of Kansas provided.
(R.O. 1964, Sec. 1-701; Charter Ordinance No.3)
Each of such funds for such pensions for firefighters and for police officers and their dependents shall be administered by a board of trustees which shall consist of the mayor of the city, the chief officer of the department and three delegates-at-large from the department, to be elected by the officers and members thereof at an annual meeting to be called by the chief officer of the department and held on the first Tuesday of July of each year, whose term of office shall be for one year, one of said boards shall be known as the Board of Trustees of the Firefighter’s Pension Fund, and the other as the Board of Trustees of the Police Officer’s Pension Fund. The boards shall elect from their members a president and secretary. The city treasurer shall be ex officio treasurer of said boards, and as such shall have charge of the funds and securities provided for herein. No member of the board of trustees or the treasurer shall receive any compensation for his or her services.
(Code 1977, Sec. 1-702)
Such pension funds shall be maintained and administered as provided by Chapter 13, Article 14a of Kansas Statutes Annotated, and all amendments thereto; provided, that those persons now receiving monthly pension benefits, shall, commencing January 1, 1979, receive an additional payment equal to two percent of the total percentage increase of the cost of living index (combined) from the date of beneficiaries retirement to April 1, 1978, multiplied by the number of years in retirement, times the original monthly benefit paid which additional amount shall not, in any event, be less than $10 per month.