There is established in the City Treasury a catastrophic loss trust fund. In each fiscal year, commencing with fiscal year 1985-86 there shall be deposited in such trust fund the sum equal to one percent of the total operating funds as reflected in the annual appropriations ordinance adopted and amended by the City Council. Such sum shall be deposited thirty days after City Council adopts the annual appropriations ordinance each fiscal year. The monies placed in the catastrophic loss trust fund shall be held in trust in an interest bearing account. Not more than two million dollars shall be placed in the account although it may accumulate interest in excess of two million dollars. City expenses attributable to third-party administrator fees will be debited against said trust fund. (Ord. 5720-NS § 3, 1986)