Section 2047-U. Waste facility reserve fund  


Latest version.
  • The county legislature may
      establish a special fund, to be known as the waste facility reserve fund
      of the county. There shall be credited to such reserve fund all  amounts
      paid  to the county and specifically designated by the payor for deposit
      in such reserve fund,  together  with  such  county  moneys  as  may  be
      appropriated  thereto,  from  time to time. Moneys in such reserve funds
      may be appropriated only for the purpose of paying amounts due from  the
      county  under  the  terms  of any contract entered into pursuant to this
      title, for which an insufficient or  no  provision  has  otherwise  been
      made,  except  that  upon  the  adoption  of  a resolution by at least a
      two-thirds vote of the voting strength of the county legislature, all or
      any portion of the moneys in such reserve fund may be transferred to any
      other reserve fund established by the county  pursuant  to  the  general
      municipal  law.  To  the  extent not inconsistent with the provisions of
      this subdivision, the management of such reserve fund and the investment
      of moneys therein shall be subject to the provisions of section six-h of
      the general municipal law.
        * NB There are 2 § 2047-u's