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1984 Ordinances
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1984 Ordinances
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2/6/2009 3:42:35 PM
Creation date
6/21/2001 4:58:30 PM
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Ord/Resolutions
Year
1984
Ord/Resolutions - Type
Ordinances
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ten dollars ($t0.0G) p~r dc¥ for each day or part thereof <br />actually spent in the discharge of his duties; me~bers who <br />are in the employ of the City shall receive as his compensation <br />ten dollars ($10.00) for each day or part thereof actually <br />spent in the discharge of his duties if such day or part <br />thereof is not otherwise a part of the regular working hours <br />of the employee. No member shall receive as compensation in <br />the aggregate more than one hundred twenty dollars ($120.00) <br />in any one (t) year. ~4embers shall be reimbursed for the <br />expenses incu~red by them in the performance of their dnties. <br /> <br />Section 31-22. <br /> <br />Fiscal Officer; Fu~ds Generally; Commingling <br />of Funds With Funds of Portsmouth Fire and <br />Police Retirement System and Portsmouth <br />SupplemeRtal Retirement System. <br /> <br /> The City Auditor or such other institutional custodian <br />as may be appointed by the Board shall be custodian of all the <br />funds created by this Article. For investment purposes only, <br />the funds created by this Article may be commingled with the <br />funds of the Portsmouth Fire and Police Retir~raent System and <br />the funds of the Portsmouth Supplemental Retirement System; all <br />registered securities in such commingled funds shall be regis- <br />tered in the name of "City of Portsmouth, Portsmouth Supplemental <br />Retirement System" and every change in registration, by reason <br />of sale or assignment of such securities shall be accomplished <br />by the *signature of the City Auditor and securit~ shall he de- <br />livered by him when directed so to do by 'a resolution of the <br />Board. The custodian of the commingled funds shall keep such <br />records as may be necessary accurately to determine at any time <br />the proportions of the total funds representing the funds of <br />the POrtsmouth Fire and Police Retirement System~ the Portsmouth <br />Employees Supplemental Retirement System, and ther Portsmouth <br />Supplemental Retirement System respectively. Allo~cation of in- <br />vestment income, capital gains and losses, a~d expenses of <br />aclrai~istration of the commingled funds between t~ three (3) <br />systems shall be made by the custodian in the ra~io of the <br />amounts of the funds of the respective systems. All payments <br />from ~aid funds shall be made by checks issued upon order signed <br />by Sueh person as is designated for the purpose by the Board. <br />No erder shall be signed unless it has previously been authorized <br />by the Board, which authorization shall be recorded on the records <br />of the Board. <br /> <br /> 2. That there be added <br />City of Portsmouth, Virginia, <br />mouth Supplemental Retirement <br /> <br />to Chapter 31 of the Code of the <br />1973, Article IV entitled "Ports- <br />System" to read as follows: <br /> <br /> <br />
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