(1) In case of insufficient funds the city will be held responsible for the payment of the monthly payments of the pension fund after the entire proceeds of said pension fund have been transferred to the general fund of the city that has adopted the alternative pension fund provisions authorized by KRS 95.621.
(2) Revenues of the city authorized by the city legislative body to support the pension fund shall be computed by determining the amount needed to meet the monthly requirements of KRS 95.621 to 95.629.