§ 70-69. Permanent total disability fund created.

Latest version.

(a)

A permanent total disability fund is created which shall be in the amount of $1,000.00 from which all benefits provided in this article shall be paid. This fund shall be annually increased by $1,000.00. If an actuarial evaluation of this fund at the expiration of a three-year period proves it to be insufficient, the mayor and city council shall provide in subsequent years an amount which is sufficient as prescribed by the actuary.

(b)

The benefits under this article will be automatically applied if the totally and permanently disabled employee qualifies for benefits as prescribed in article IV of this chapter.

(Ord. No. 1088, §§ 3, 4, 10-22-1957; Code 1960, § 24-16)

                    
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