Chapter 185 Funds Clause Samples

The "Chapter 185 Funds" clause defines the handling and allocation of funds received under Chapter 185 of the Florida Statutes, which provides state premium tax revenues to support municipal police pension plans. This clause typically outlines how these funds are to be segregated, credited to the pension plan, and used exclusively for the benefit of eligible police officers, often specifying that the funds must be used in accordance with statutory requirements. Its core practical function is to ensure compliance with state law regarding the use of these dedicated funds, thereby safeguarding the financial integrity of the pension plan and protecting the interests of its beneficiaries.