(A) The Fire Department Equipment Fund is hereby established for the purpose of administering the proceeds from fond raising events and contributions designated for the Town Volunteer Fire Department.
(B) It is, therefore, established by a unanimous vote of the Town Council as follows.
(1) There is established a fund to be known as the Fire Department Equipment Fund.
(2) Said fund may receive contributions from time to time and/or proceeds from the Fire Department Fund raising events.
(3) Said fund shall be used by the Town Volunteer Fire Department towards the Fire Department Equipment and/or periodic supplies for the Fire Department.
(4) Proceeds and/or contributions for said fund shall be kept in checking account with town funds.
(5) Said fund shall be non-reverting at year end and should only be terminated if the Fire Department should become non-existent.
(6) If said fund should be terminated, then the present Town Council shall at that time designate placement of the remaining funds.
(Ord. 1998-4, passed 3-23-1998)