NORTH CAROLINA GENERAL ASSEMBLY

1959 SESSION

 

 

CHAPTER 541

HOUSE BILL 675

 

 

AN ACT TO AMEND SECTION 4 OF CHAPTER 456 OF THE SESSION LAWS OF 1947 RELATING TO INVESTMENTS OF PENSION FUNDS BY THE BOARD OF TRUSTEES OF THE PENSION FUND OF THE CITY OF FAYETTEVILLE, IN CUMBERLAND COUNTY.

 

The General Assembly of North Carolina do enact:

 

Section 1. Section 4 of Chapter 456 of the Session Laws of 1947 is amended by adding at the end thereof the following:

"Provided, however, said Board of Trustees of the Pension Fund of the City of Fayetteville, North Carolina, may invest any or all of the funds derived from the provisions of this Act under the same conditions and in the same investments as authorized to municipalities by G. S. 160-411.5, 1957 Supplement to the General Statutes."

Sec. 2. All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3. This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 15th day of May, 1959.