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system, except to make such current and necessary payments therefrom as are authorized by the board; nor shall any member of the board become an endorser or surety or in any manner an obligor for monies loaned by or borrowed from the svvstemb Without limitation. all board members and contractors of the board shall avoid actual or potential conflicts of interest and the ---- appearance of actual or potential conflicts of interest 8. Section 30-60 of the Code of the City of Portsmouth, Virginia (2006) is amended as follows: Sec. 30-60. -Fiscal officer; funds generally; combination of funds with funds of fire and police retirement system. .The chief financial officer or such other institutional custodian as may be appointed by the board shall be the custodian of all of the funds created by this article. For investment purposes only, the funds created by this article may be combinedg®n~~ .with the funds of the Portsmouth Fire and Police .Retirement System; all registered securities in such combined~~~d funds shall be registered in the name "City of Portsmouth, Portsmouth Supplemental Retirement System" and every change in registration, by reason of sale} ~ assignments transfer or disposal of such securities shall be accomplished by the signature of the chief financial officer and securities shall be delivered by him when directed so to do by resolution of the board. The custodian of the combined~~~~ funds shall keep such records as may be necessary accurately to determine at any time the proportions of the total funds representing the funds of the Portsmouth Fire and Police Retirement System and the Portsmouth Supplemental Retirement System respectively. Allocation of investment income, capital gains and losses, and expenses of administration of the combinede~~~ funds among the two systems shall be made by the custodian in the ration of the amounts of the funds in each of the respective systems to the combined total amount of funds in both systems. All payments from such funds shall be made by checks issued upon orders signed by such person as is designated for the purpose of the board. No order shall be signed unless it has previously been authorized by the board, which authorization shall be recorded on the records of the board. 9. Section 30-76 of the Code of the City of Portsmouth, Virginia (2006) is amended as follows: Sec. 30-76. -Composition. Membership in this system as of any date after June 30, 1967, shall consist of all the employees except those who had attained their normal retirement date at the date of employment, and mall former employees who were at any times members of the system and whose membership in the system had not been terminated under the provisions of this article. Notwithstanding anything to the contrary, no employee shall be a member of the Portsmouth Supplemental Retirement System except by making a valid election for transfer from the Portsmouth ~~~Supplemental Retirement System prior to December 1, 1984; nor shall A-4