§ 7.2. Transfers of funds and disbursements.

Notwithstanding the provisions of G.S. 118-7, the board of trustees of the local firemen's relief fund of the city shall:

(a)

At any time when the amount of funds in the local relief fund shall, by reason of disbursements authorized by G.S. 118-7, be less than thirty thousand dollars ($30,000.00), transfer from the supplemental retirement fund to the local relief fund an amount sufficient to maintain in the local relief fund the sum of thirty thousand dollars ($30,000.00);

(b)

As soon as practical after January first, of each year, but in no event later than July first, divide the sum of the annual funds paid to the local relief fund by authority of G.S. 118-5, the income earned in the preceding calendar year upon investment of funds belonging to the local relief fund and the funds belonging to the supplemental retirement fund into equal shares and disburse the same as supplemental retirement benefits in accordance with section 7.3 of this article.