NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 12

SENATE BILL 39

AN ACT TO AMEND CHAPTER 302 OF THE SESSION LAWS OF 1967, BY CHANGING AND ENLARGING THE MEMBERSHIP OF BOARD OF DIRECTORS AND INCREASING BENEFITS PAYABLE UNDER THE SUPPLEMENTARY PENSION FUND FOR FIREMEN IN THE TOWN OF MOUNT AIRY.

The General Assembly of North Carolina do enact:

Section 1.  Section 1 of Chapter 302 of the Session Laws of 1967 is hereby amended by rewriting the Section to read as follows:

"There is hereby established a Supplementary Pension Fund for the Fire Department of the Town of Mount Airy, North Carolina, said fund to be known as the "Mount Airy Firemen's Supplementary Fund", herein after referred to as Supplementary Pension Fund, and said fund to be administered by a board of trustees composed of the City Treasurer of the Town of Mount Airy, the Chief of Fire Department of Mount Airy and three (3) members of said board to be elected annually from the membership of the Mount Airy Fire Department by a majority vote of its members."

Sec. 2. Section 4 of Chapter 302 of the Session Laws of 1967 is hereby amended by rewriting the Section to read as follows:

"Any member who has served 30 years as a fireman in the Mount Airy Fire Department and has attained age 55 years shall be entitled to receive retirement benefits from the "Supplementary Pension Fund"; said monthly pension shall be computed on the basis of $1.25 per month for each year of service in the department."

Sec. 3. All laws and clauses of laws in conflict with the provisions of this Act are hereby repealed.

Sec. 4. This Act shall become effective upon its ratification.

In the General Assembly read three times and ratified, this the 17th day of February, 1969.