That the governing authorities of the Town of Manteo are authorized and empowered to receive the funds collected from taxes levied as aforesaid and use said funds exclusively for the purpose of providing fire equipment, maintaining same and providing fire protection within the fire district herein organized, or using the same in conjunction with taxes levied and collected by the Town of Manteo and used for maintaining its fire department. The Town of Manteo is hereby fully authorized and empowered to provide fire protection within the said fire district and make provision for the purchase of suitable fire fighting equipment, which may be necessary for providing reasonable fire protection within said territory. Fire fighting equipment purchased by funds from taxation within said district shall remain the property of the said district and shall be plainly designated by proper markings thereon indicating ownership thereof, but same shall be and remain in the custody and control of the Town of Manteo for use by its fire department which shall serve jointly the Town of Manteo and the said fire district.
(Pub.-Loc. Laws 1937, ch. 246, § 4.)