86.187. Guaranty. - Missouri Statutes

Guaranty.

86.187. Regular interest charges payable, the creation andmaintenance of reserves in the pension accumulation fund and themaintenance of annuity reserves and pension reserves as providedfor and the payment of all pensions, annuities, retirementallowances, refunds and other benefits granted under theprovisions of sections 86.010 to 86.193 and all expenses inconnection with the administration and operation of theretirement system are hereby made obligations of the said cities.All income, interest and dividends derived from deposits andinvestments authorized by sections 86.010 to 86.193 shall be usedfor the payment of the said obligations of the said cities. Anyamounts derived therefrom, which, when combined with regularappropriations made under the provisions of sections 86.010 to86.193, exceed the amount required to provide such obligations,shall be used to reduce the regular appropriations otherwiserequired.

(RSMo 1939 § 9474)

Prior revision: 1929 § 8916