87.040. Disposition of interest--duties of legislative body of city. - Missouri Statutes

Disposition of interest--duties of legislative body of city.

87.040. The interest received from the investment of saidfunds shall be applicable to the payment of pensions undersections 87.010 to 87.105, and it shall be in the power of thelegislative body of any city, village or incorporated town todiminish and adjust the annual rate of one percent from licenses,so that the income from interest, dues from members and licensesshall meet the requirements of the pension list as provided bysections 87.010 to 87.105.

(RSMo 1939 § 9505)

Prior revisions: 1929 § 8938; 1919 § 9039; 1909 § 9864