Said reserve fund may be discontinued, after recommendation by the budget-making authority to the legislative body and upon approval of said body, and said fund shall be converted into, or added to, a sinking fund to provide for the retirement of its nonserial bonded indebtedness. If the municipality has no bonded indebtedness, such fund shall be transferred to the general fund of the municipality.
(1949 Rev., S. 801.)
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.