There is created in the treasury of the city a special fund to be known and designated as “payrolls fund.” Said special fund is created for the purpose of paying all moneys due city officials and employees for salaries and wages and any and all payroll deductions subsequent to January 1, 1970. For the purpose of making expenditures from the payrolls fund as herein authorized the clerk-treasurer is empowered to make current transfers of moneys to said fund from the various other city funds heretofore or hereafter established in the city treasury against which such expenditures shall be properly chargeable. (Ord. 128 § 2, 1970).