Sec. 7-296. Reserve fund of police department.
Sec. 7-296. Reserve fund of police department. There shall be in each city a fund
to be known as the "reserve fund of the police department" and said fund shall consist
of: (1) All property specially devised or given for the benefit of disabled policemen
and all property given to the department on account of service rendered; (2) all lost or
abandoned money, in charge of the board of police commissioners or police committee
of such city, and all moneys arising from the sale of abandoned or lost property, in
charge of such board, available for the purpose by the laws of the state; (3) all rewards,
fees, gifts, testimonials and emoluments presented to any member of the police force
on account of special services, except such as are allowed by such board or committee
to be retained by such member, and all moneys collected from members of the police
force by way of fines or forfeiture of pay imposed or ordered by such board and all
money deducted or withheld from the pay of members of the police force on account
of lost time; (4) the income and interest from all property and moneys belonging to said
fund, and (5) such moneys as are from time to time appropriated for that purpose by the
common council of such city. The board of police commissioners or the police committee shall be a board of trustees of the reserve fund and the treasurer of the city shall be
the treasurer of said fund. The president of such board or committee shall be president
of such board of trustees and shall draw all orders upon said fund, which shall be countersigned by the secretary of such board of trustees, who shall be designated by the board.
The secretary shall keep a record of the proceedings of the board of trustees and of all
action taken by it with regard to said fund. The board of trustees shall have general
charge of said fund and may, by a majority vote, direct the treasurer to invest any portion
of the same in any securities authorized by the laws of the state as investments for trust
funds or to deposit the same or any portion thereof in any of the savings banks of the
state. The board of trustees shall report to the common council yearly the condition of
the reserve fund, with the items of all the receipts and disbursements on account of the
same. If the reserve fund is found at any time insufficient to meet all requirements
upon it, the common council, upon application of the board of trustees, may make an
appropriation to make good such deficiency, and any prospective deficiency in said
fund may be provided for by the common council in its annual appropriation for the
police department.
(1949 Rev., S. 905; P.A. 75-530, S. 22, 35.)
History: P.A. 75-530 deleted references to unclaimed or stolen money or property.
See Sec. 7-285 re sales of unclaimed goods by police departments.
See Sec. 50-14 re disposition of lost goods after expiration of time for making claim.
Does not prohibit by implication deductions from pay of policemen. 137 C. 43.