Notwithstanding the provisions of G.S. 118-7, the Board of Trustees of the Local Firemen’s Relief Fund of the City of Whiteville shall:
(1) In each calendar year, and within 30 days after receipt from the City Officer of the annual funds paid to the Local Relief Fund by authority of G.S. 118-5, transfer the funds to the Supplemental Retirement Fund; and
(2) When the amount of funds in the Local Relief Fund shall, by reason of disbursement authorized by G.S. 118-7, be less than five hundred dollars ($500.00), transfer from the Supplemental Retirement Fund to the Local Relief Fund an amount sufficient to maintain in the Local Relief Fund the sum of five hundred dollars ($500.00).
Editor’s note:
G.S. 118-5 and 118-7 have been renumbered to G.S. Ch. 85 to 88