There is established in the treasury of the city a fund to be known and designated as the “firemen’s pension fund,” into which shall be deposited moneys, bequests, fees, gifts, emoluments, donations, taxes, interest, contributions by firemen including deductions from their pay, and moneys deriving through the state from taxes on fire insurance premiums. Administration and disbursements from the fund shall be conducted and made as provided by statute. (1961 code § 3.74.030.)