No payments shall be made to the reserve fund as provided for in section 7-361 which will cause the amount of such fund to exceed the current tax levy of the municipality, except for the addition of interest and dividends earned by such fund except in the case of any fire district or consolidated or unconsolidated borough, no such payments shall be made which will cause the amount of such fund to exceed three times the current tax levy of such fire district or borough excluding the addition of interest and dividends earned by such fund.
(1949, Rev., S. 800; 1971, P.A. 716; P.A. 99-205, S. 1, 2.)
History: 1971 act added exception concerning fire districts; P.A. 99-205 added exception concerning consolidated or unconsolidated boroughs, effective July 1, 1999.
Structure Connecticut General Statutes
Chapter 108 - Municipal Reserve Fund
Section 7-360. - Creation of fund.
Section 7-361. - Procurement of fund.
Section 7-362. - Investment of fund.
Section 7-363. - Information re fund.
Section 7-365. - Termination of appropriation.
Section 7-366. - Appropriation when reserve fund insufficient.
Section 7-367. - Amount of fund not to exceed current tax levy.