Section 2050-U. Solid waste facility reserve fund  


Latest version.
  • The county legislature
      may establish a special fund,  to  be  known  as  solid  waste  facility
      reserve fund of the county. There shall be credited in 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
      fund  shall  be  deposited  in  interest-bearing  accounts  and  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-third 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  section, 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.