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0177 ORDINANCE NO. AN ORDINANCE CREATING AND ESTABLISHING BOARD OF TRUSTEES OF THE POLICEMEN'S PENSION AND RELIEF FUND OF THE CITY OF JACKSONVTTX.F, ARKANSAS. WHEREAS, an election was held on July 19, 1966, at which the qualified electors approved the levy of a tax of one-half mill on the assessed valuation of all taxable property within the City of Jacksonville, Arkansas, for the purpose of establishing the Policemen's Pension and Relief Fund; and WHEREAS, the Arkansas Statutes requre that a Board of Trustees be established by the City Council to administer such fund; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF JACKSONVILLE, ARKANSAS, That: SECTION 1. That the Board of Trustees of the Policemen's Pension and Relief Fund be and the same is hereby created and established. SECTION 2. That the Board of Trustees of the Policemen's Pension and Relief Fund shall consist of five (5) members composed of the following: 1. The Mayor of said city, who shall be Chairman of the Board; 2. The City Treasurer of the said City, who shall be the treasurer of said fund; 3. A member of the Police Department elected by the two formerly named members of the Board, who shall serve as Secretary of the Board; 4. The formerly named three members shall select two other members, one of which shall be a reputable physician, who shall represent the said Board of Trustees in the examination of any member of the department upon a claim of disability; and 5. The fifth member shall be a reputable citizen and shall not hold any public office. Each member of the said Board so selected shall serve for a period of two (20 years, or until his successor is elected and qualified. SECTION 3. That it shall be the duty of the said Board to exercise the absolute authority, control and management of the monies of the Policemen's Pension and Relief Fund in accordance with the Arkansas Statutes governing the same, as enacted by the General Assembly of the State of Arkansas in Act 250 of 1937, and all additions and amendments thereto. That this Ordinance shall be in full force and effect from and after its adoption. Approve and adopted this day ofAugust, A.D., 1966. MAYOR ATTEST: City Clerk