Section 13-531. Contributions of the city and their use; pension reserve fund number two

Pension  reserve  fund  number  two  shall  consist of the  following:
    1. The donations, legacies, and gifts which may be made to such system
  or to the retirement fund of the board of education of the city  of  New
  York.
    2.  The  amounts  contributed  by  the city to pay the pensions of the
  teachers retired on or before the thirty-first  day  of  July,  nineteen
  hundred  seventeen,  and  to pay that part of the pensions and the other
  benefits of present-teachers who shall be retired or  who  shall  become
  eligible  for  retirement  after  the thirty-first day of July, nineteen
  hundred seventeen, which are not payable from any  other  fund  provided
  for  by  this chapter. Pensions and other benefits, or such part thereof
  allowable to present-teachers and to present pensioners,  provision  for
  the payment of which out of any other fund provided for by this title is
  not  specifically made, shall be paid out of pension reserve fund number
  two.