Section 2051-U. Solid waste facility reserve fund  


Latest version.
  • The town board may
      establish a special fund, to be known as solid  waste  facility  reserve
      fund  of  the  town.  There  shall  be credited in such reserve fund all
      amounts paid to the town 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 town 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 town, all or any portion of the moneys in  such  reserve
      fund  may  be  transferred  to any other reserve fund established by the
      town  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.
        * NB There are 3 § 2051-u's