§ 35. Capital reserve fund
(a) The Board may establish and provide for a capital reserve fund to pay for public improvements, replacement of worn-out buildings and equipment, and major repairs of Authority facilities.
(b) Any such capital reserve fund shall be kept in a separate account and invested as are other public funds and shall be expended for such purposes for which established.
(c) The cost of payments to any capital reserve fund shall be included in the annual budget of the Authority. (Added 2013, No. M-17 (Adj. Sess.), § 2, eff. May 20, 2014.)
Structure Vermont Statutes
Title 24 Appendix - Municipal Charters
Chapter 901 - Central Vermont Public Safety Authority
App § 1. Purpose and composition
App § 8. Selection of directors
App § 9. Organizational meeting
App § 16. Public Safety Director
App § 23. Open meetings and public records
App § 28. Budget appropriation and assessment
App § 29. Cost-sharing formula
App § 32. Limitations of appropriations
App § 35. Capital reserve fund
App § 36. Special Authority meetings
App § 43. Qualifications and registration of voters
App § 45. Reconsideration or rescission of vote
App § 46. Validation of Authority meetings
App § 48. Withdrawal of a municipality
App § 49. Admission of additional municipalities
App § 50. Dissolution of the Authority