The primary purpose of this trust is to establish a fund to permit the
governing body or fund commissioner to secure insurance protection for the
local unit.
Investment of funds shall be under the direction of the Chief Financial
Officer in accordance with the Local Fiscal Affairs Law, which provides rules and regulations for the control, investment
and disbursement of said funds.
If the governing body at some future date determines that conditions
permit a reduction of the principal amount appropriated to the trust fund,
they may cancel a portion of the funds for use in the current operating budget
by not less that a two-thirds vote of the full governing body.