§ 20. Undesignated reserve fund
The Selectboard may annually reserve any surplus in the essential services budget, not to exceed five percent of the budget, for the purpose of establishing an undesignated reserve fund. The reserve fund shall be kept in a separate account and invested as are other public funds and may be expended for purposes as may be authorized by a majority of the voters present and voting at an annual or special meeting duly warned. (Added 2005, No. M-14 (Adj. Sess.), § 7.)
Structure Vermont Statutes
Title 24 Appendix - Municipal Charters
Chapter 151 - Town of St. Johnsbury
App § 1. Merger of Village and Town
App § 2. Assets transferred; liabilities; taxation; special services; downtown improvement district
App § 2a. Taxation for bonds and notes
App § 3. Settlement of Village affairs
App § 4. Authority; annual meeting
App § 6. Fire District; process for abolition
App § 8. Ordinances and regulations
App § 9. Publication of bylaws and ordinances
App § 11. Prosecution of violations
App § 12a. Compensation and fees
App § 13. Expiration of terms of Selectboard members upon merger
App § 14. Authority to merge; expiration
App § 16. Preparation of budgets; Australian ballot
App § 17. Department of Assessment