A. The principal of the Bethel endowment fund shall not be invaded unless approved by a majority of the voters at a general or special election called for that purpose by the city council.

B. If a majority of the voters approve an invasion of the Bethel endowment fund, an ordinance will be created to that effect and duly adopted by the Bethel city council.

C. Upon introduction of an ordinance invading the principal of the Bethel endowment fund, the city manager must provide at least one (1) month’s public notice of said ordinance. This notice shall include the holding of at least two (2) informational meetings open to the public. At least two (2) such meetings shall be held prior to the public hearing on the proposed ordinance before the city council. [Ord. 08-19 § 2; Ord. 93-27 § 1.]