384.6 - TRUST AND AGENCY FUNDS.

        384.6  TRUST AND AGENCY FUNDS.         A city may establish trust and agency funds for the following      purposes:         1.  Accounting for pension and related employee benefit funds as      provided by the city finance committee.  A city may certify taxes to      be levied for a trust and agency fund in the amount necessary to meet      its obligations.         a.  A city may make contributions to a retirement system other      than the Iowa public employees' retirement system for its city      manager, or city administrator performing the duties of city manager,      in an annual amount not to exceed the amount that would have been      contributed by the employer under section 97B.11.         b.  If a police chief or fire chief has submitted a written      request to the board of trustees to be exempt from chapter 411,      authorized in section 411.3, subsection 1, a city shall make      contributions for the chief, in an amount not to exceed the amount      that would have been contributed by the city under section 411.8,      subsection 1, paragraph "a", to the international city management      association/retirement corporation.         c.  A city which has contracted with another city or      governmental entity for the provision of public safety services,      including but not limited to police protection, fire protection,      ambulance, or hazardous materials response, may, pursuant to      contract, make contributions for pension and related employee      benefits for personnel of the other city or governmental entity      providing such services to the city.  The city may make such      contributions in an annual amount not to exceed the amount of      contributions for pension and related employee benefits that would      otherwise be paid by the other city or governmental entity for such      personnel.         2.  Accounting for gifts received by the city for a particular      purpose.         3.  Accounting for money and property received and handled by the      city as trustee or custodian or in the capacity of an agent.  
         Section History: Early Form
         [C54, 58, 62, 66, 71, 73, § 404.16; C75, 77, 79, 81, § 384.6] 
         Section History: Recent Form
         85 Acts, ch 195, §45; 2006 Acts, ch 1130, §1         Referred to in § 364.25, 384.15, 411.15