ARTICLE 2. FIREMEN’S RELIEF ASSOCIATION
7-201 Officers; bylaws.
7-202 Treasurer; duties; bond.
(K.S.A. Supp. 40-1706)
7-203 Funds; limitation of use.
All moneys received by the treasurer of the Firemen’s Relief Association shall be set apart and used by the Firemen’s Relief Association solely and entirely for the objects and purposes of this article and as set forth in Chapter 40, Article 17, Kansas Statutes Annotated, and shall be paid to and distributed by the Firemen’s Relief Association under such provisions as shall be made by the governing body of the city: Provided That in all cases involving expenditures or payments in an amount of five hundred dollars ($500.00) or more, prior certification shall be obtained from the city attorney that such expenditures or payment complies with such requirements. NOTE: For use of moneys, See K.S.A. 40-1707.
7-204 Insurance; purchase of or payment of premiums.
Moneys collect and received under the provisions of this article may be expended for the purchase of, or payment of premiums on, policies of life, accident, or accident and health insurance upon members of the fire department of this city, which policies may be owned either by the Firemen’s Relief Association of this city or by the individual members thereof but, before any premium is paid on such policies of insurance the provisions thereof shall be approved by such Firemen’s Relief Association as suitable to carry out the objects for which said Association was established.
(K.S.A. 40-1707)
7-205 Investment of funds.
The officers of the Firemen’s Relief Association may invest any amount, not to exceed ninety per cent (90%) of all such moneys, in purchasing bonds of the City of Minneapolis: Provided, that when bonds of the City of Minneapolis are not obtainable, United states government bonds may be purchased or any municipal bonds of this state where the bonded indebtedness of such municipality shall not exceed fifteen per cent (15%) of its total assessed valuation, as shown by the last assessment preceding such investment. Such investments must be approved by the governing body of the city. It shall be the duty of the city attorney to examine all such bonds as to their validity and report thereon in writing to the city governing body and the Firemen’s Relief Association and no bonds shall be purchased by said Firemen’s Relief Association until they have been approved and found valid by the City Attorney.
(K.S.A. 40-1706)