Sec. 121.114. - Chapter Funds and Accounts.

(a) Effective October 1, 2017, 20 percent of the accumulated balances existing on September 30, 2017, together with interest thereon, in the Unfunded Liability Payment Account (UALPA) and the Supplemental Payment Account (SPA), shall be administered by the Board for the legal use of the police officer Members, as determined by the legally recognized collective bargaining unit. (b) Effective October 1, 2017, 20 percent of the accumulated balances existing on September 30, 2017, together with the interest thereon, in the Unfunded Liability Payment Account (UALPA) and the Supplemental Payment Account (SPA), shall be administered by the Board for the legal use of the fire fighter Members, as determined by the legally recognized collective bargaining unit. (c) Effective October 1, 2017, all Chapter 175 Florida Insurance Premium Tax Rebate Dollars shall be administered by the Board for the legal use of the fire fighter Members, as determined by the legally recognized collective bargaining unit. (d) Effective October 1, 2017, all Chapter 185 Florida Insurance Premium Tax Rebate Dollars shall be administered by the Board for the legal use of the police officer Members, as determined by the legally recognized collective bargaining unit. (e) Effective October 1, 2017, 60 percent of the accumulated balances existing on September 30, 2017, in the Unfunded Liability Payment Account (UALPA) and the Supplemental Payment Account (SPA), and 100 percent of the accumulated balances existing on September 30, 2017, in the City Budget Stabilization Account (CBSA) and the Enhanced Benefits Account (EBA), together with the interest thereon, shall be administered by the Board for the sole purpose of being applied to the City's Actuarially Determined Employer Contribution (ADEC) for the year(s) selected by the City, at the discretion of the City. (f) The Board shall not utilize the funds identified in this Section for any purpose other than the specifically enumerated purposes set forth in this Section. (Ord. 2015-304-E , § 1; Ord. 2017-259-E , § 1)