Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1907-08-08
Approved June Is, 1907.
No 121, A. Published June IA, 1907
CHI APTER ola. LAWS OF 1907.

L. a.
CHAPTER 214, LAWS OF 1907
AN ACT to create sections 959-46e TO
959--46u, inclusive statutes of 1898, ere.
ating a pension fund for members OF
the fire department in cities Of the sec
ond, third and fourth class.
The people of the State OF Wisconsin,
represented in Senate and Assembly, do
enact as follows
Section /. There are added to the stat
utes of 1898 seventeen new sections to
read Section 959-46e. In all cities OF
the second, third and fourth class within
this state, having paid fire departments
one-half of all sums collected or received
BY the treasurers of such cities, under the
requirements of any law of this state or
of the charter of any such city relating
to and providing for the taxation of fire
insurance companies, or agents, shall be
set apart by the common council and comp
trollers of such cities, and retained and set
apart by the treasurers of such cities,
which shall be and constitute a pension
fund to be used for the pensioning of dis
abled and superannuated members of the
fire departments, and the widows and or
phans of deceased members thereof, and
the treasurers of such cities shall be ex-
offcio treasurers of such funds;
Section 959--46f There shall also be
paid into such funds, and shall constitute
g part thereof for said purposes, by each
and every member of such departments,
at the time this act takes effect, and by
all members subsequently acquired, during
their term Of service, the following sums
monthly, tO-WlC one per cent VI lueAI
monthly salaries, also all fines imposed on
members for violations of the rules of the
department, and all moneys deducted Tor
time lost by members on account OF SICK
ness.
Section 959-46g. The mayor, treasurer
and city comptroller, when no comptroller
the CITY clerk, the chief engineer and three
active members of the fire department. or
any such city, shall constitute and be
board by the name Of the board Of trustees
of the fremen's pension fund Of the city
Of .... The three members OF the
board from the fire department shall be
DAYS before the annual election OF the
officers Is held. Each member OF such hre
department shall be entitled to vote Tor
such three members Of the board upon one
the highest number Of votes shall be elect
ed. The said board shall annually select
from among their number president ana
secretary, and in case of vacancy occur
ing during the term, the same snail DC
filled by the board.
Section 959-46h. Said boards shall
have exclusive control and management OF
the fund mentioned in this act and all
moneys donated, paid or assessed for the
relief or pensioning Of disabled, superan-
nuated or retired members OF the hre de,
of such cities to tho credit of such fund
subject to the order OF such boards; The
said boards shall make all the needfuI rules
the discharge Of their duties and for the
control of such funds and shall hear and
decide all applications for pensions under
this act. Each board shall cause to be
kept by it's secretary a record OF all ltS
meetings and proceedings
Section 959-46i. All rewards in mon
eys fees, gifts or emoluments, that may be
paid or given for or on account OF any
service Of said fire departments, or any
member thereof except when allowed to
be retained by said member by resolution OF
said boards, or given to endow medal OF
other permanent competitive reward shall
be paid into said funds, and constitute a
part thereof The said boards may take
BY grant, gift, devise or bequest, any
money real estate. personal property, right
of property or other valuable thing, the
amount or value of which shall not exceed
ffty thousand dollars And said money,
property or other valuable thing so OBJ
famed shall be paid into said pension
funds and treated as part Thereon Tor
the use Of said funds; provided that When
the sum Of fifty thousand dollars mas Deen
accumulated in any of said funds, from
anv source, it shall be retained as per-
manent fund and thereafter the annual
income therefrom, in addition to the other
sums received for said purposes, snail pc
available for the use and Purposes or such
pension fund.- and until any OF such tundS
Shall amount to the sum OF hfty thousand
dollars the principal and interest derived
therefrom may be used for the payment OF
pensions provided for by this act -,
Section 959-46j The said boards shall
have power to draw such pension funds
from the treasury of such cities anG may
invest such funds or any part tnereoI.,
bearing bonds of the United States or of
the state of wisconsin, or of any county;
township, or municipal. corpora ton OF said
state. and all securities taken upon any
Such investment shall be deposited with
fhe treasurer of any such city as treasurer
IF said board and shall be subject TO the
order of any said board.
SECTION 95o-46k The interest received