There is established in the treasury of the city a fund, to be known and designated as the firefighters’s pension fund, into which shall be deposited moneys, bequests, fees, gifts, emoluments, donations, taxes, interest, contributions by firefighters, including deductions from their pay, and moneys deriving through the state from taxes on fire insurance premiums. Administration and disbursements from this fund shall be conducted and made as provided by statute. (Ord. 536 § 3, 1968).