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CHAPTER 302 AN ACT TO ESTABLISH A SUPPLEMENTARY PENSION FUND FOR FIREMEN IN THE TOWN OF MOUNT AIRY. The General Assembly of North Carolina do enact:
The said custodian of said Supplementary Pension Fund is authorized and directed to invest all moneys coming into his possession belonging to said Supplementary Pension Fund, except so much as the board of trustees from time to time determine is reasonably necessary for the prompt payment of claims and expenses, in such securities as the 346 board of trustees shall select: Provided, however, that such securities shall be limited to, and upon, the same conditions as those enumerated by the General Statutes of North Carolina, as amended, as to the investment of trust funds, and/or the funds of guardians.