Sec. 6.1. Authority to Construct a Health Center or Clinic
(a) The governing authority of the Town of La Grange, in Lenoir County, is hereby authorized and empowered to appropriate from nontax funds the sum of at least $10,000 for the purpose of acquiring a site and constructing thereon a health center or clinic for public health purposes or for use as a public health center, and the said Town of La Grange is authorized not only to appropriate said funds but also to take any and all steps that may be necessary to acquire a site and to construct said public health center or clinic.
(b) If and when the Town of La Grange shall appropriate and make available the said sum of $10,000 for the purpose of a public health clinic, as mentioned in section 1 of this act [subsection (a) hereof], then the Town Council of Lenoir County is authorized, in its discretion to appropriate and make available the sum of $25,000 from nontax funds for the purpose and as an aid to the construction of, and acquisition of a site for, a public health center or clinic in the Town of La Grange. The expenditure of said funds shall be supervised by the Town Council of Lenoir County. If and when same are appropriated and made available the same shall be expended for the acquisition of said site and the construction of the public health center or clinic thereon according to a contract or agreement which shall be negotiated and entered into between the Town Council of Lenoir County and the governing authority of the Town of La Grange, which such contract or agreement is hereby authorized, and reciprocal resolutions, or a joint resolution, of the Town Council of said Town of La Grange and County of Lenoir shall be sufficient evidence of such contract or agreement.
(c) If and when said site is acquired and public health center or clinic constructed, then with the joint approval and consent of the Town Council of Lenoir County and the governing authority of the Town of La Grange, any offices available in same may be rented to practicing physicians, such rentals to be approved by both authorities and the proceeds of such rentals shall be payable to the Town of La Grange and the County of Lenoir as the interest of each authority may appear and according to the ratio of the funds appropriated by each authority or board.
Sec. 6.2. Retirement or Pension Fund for Employees
(a) The governing body of the Town of La Grange is hereby authorized to establish or provide for a retirement system to provide for the payment of benefits to its employees or to their beneficiaries in the following cases:
- Retirement, because of age;
(b) Such system shall include such officers and employees of the town as shall be determined by the governing body. The town shall contribute to the system in such amounts as it shall determine, in order to meet the liabilities accruing because of personal services rendered to the town by its officers and employees; provided, however, that the system may also provide benefits which are based, partly or entirely, upon personal services rendered to the town prior to the establishment thereof, and the town may contribute the entire cost of benefits based on any such prior service. The governing body may provide that employees shall share in the cost of financing the system, upon such terms as it deems advisable. The expense of administering the system shall be paid as provided by the governing body and the governing body shall appropriate each year sufficient revenue to provide for the expense of the administration.
(c) The system shall be maintained on a solvent actuarial reserve basis for all benefits beginning at its inauguration date, excepting the present value of benefits based on prior service.
(d) The contribution required to cover the cost of benefits based on prior service, if any, shall be sufficient to fund the liability for such prior service in not more than 40 years from the date of establishment of the system.
(e) The ordinance may provide for the appointment or election of a retirement board or board of trustees, and for the delegation to such board of such powers and duties as may be deemed necessary to carry out the intent and purpose for which the system is established. If such a retirement board or board of trustees is provided for, the said board shall consist of a member or members of the governing body, an employee or employees entitled to participate in the system, and one or more citizens of the town not officially connected with the town nor entitled to participate in the system.
(f) The town may provide for the payment of one or more of the benefits enumerated in subsection (b) of this section by contracting with the governing body of any other municipality or municipalities in the state, with the United States government or any of its agencies or departments, with the State of North Carolina or any of its agencies or departments, or may contract with any insurance company or other corporation for the performance of any service in connection with the establishment of such fund, or for the investment, care, or administration of such fund, or for any other service relating thereto.
The town or any other governing body, agency, insurance company, person, or corporation contracting with the town for the investment, care or administration of said system may invest and reinvest the funds thereof in one or more of the types of securities or other investments authorized by G.S 58-79, as heretofore or hereafter amended, and by other State law, for the investment of assets of domestic life insurance companies.
(g) Nothing in this shall be construed so as to prohibit the town from providing or continuing to provide Old Age and Survivors’ Insurance, or Social Security coverage for its officers and employees as the same may be authorized by federal and state laws, either separately or in addition to the fund authorized herein, or any other retirement or pension plan or fund authorized by general law or local act.