The board of supervisors shall hold separately in trust pension money or property taken over by it from the city under the contract and all earnings, increases, and additions to such funds. The money or property shall be expended solely for the payment of the city’s portion of such pensions and incidental administrative expenses.

(Added by Stats. 1949, Ch. 81.)

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Terms Used In California Government Code 51307

  • City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
  • Contract: A legal written agreement that becomes binding when signed.
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