§ 16-53. Contributions and collections.

(a)

Contributions.

(1)

The city and participants shall make prompt contributions or payments to the trust fund in such amounts and under the terms as are provided for in this article and as required by law. Such contributions or payments are absolute obligations to the trust fund, and such obligations shall not be subject to (by way of illustration and not limitation,) set-off or counterclaim which the city or any participant may have for erroneous contributions to any other trust funds, or for any other liability of any official, the city, the trustees, or any other person.

(2)

Contributions to the fund shall be paid to the trust fund or to such depository as the trustees shall designate, only by check, bank draft, or money order, or its equivalent.

(b)

Receipt of payment and other property of trust. The trustees or such other person or entity designated or appointed by the trustees in accordance with section 16-54(f) are hereby designated as the persons to receive the payments heretofore or hereafter made to the trust fund by the city. The trustees are hereby vested with all right, title and interest in and to such monies and all interest which may be accrued thereon, and are authorized to receive and be paid the same.

(c)

Collection and enforcement of payments. The trustees shall have the power to demand, collect and receive city payments and all other money and property to which the trustees may be entitled, and shall hold the same until applied to the purposes provided in this trust agreement. They shall take such steps, including the institution and prosecution of, or the intervention in, such legal or administrative proceedings as the trustees in their sole discretion determine to be in the best interest of the trust fund for the purpose of collecting such payments, money and property.

(Ord. No. 1222, § 1, 11-18-1999)