§ 38. Capital reserve fund
The Board of Supervisors, with the approval of a majority of the voters present and voting at a special District meeting called and warned for the purpose, may establish and provide for a capital reserve fund to pay for public improvements in furtherance of the purpose for which the District was created. Any capital reserve fund shall be kept in a separate account and invested as are other public funds and may be expended for the purposes for which established, or other purpose when authorized by a majority of the voters present and voting at a special District meeting duly called and warned for the purpose. The cost of payments to any capital reserve fund shall be allocated among the member municipalities as provided in subsection 33(c) of this chapter. (Added 2005, No. M-8, § 2.)
Structure Vermont Statutes
Title 24 Appendix - Municipal Charters
Chapter 601 - Rutland County Recreational District
App § 9. Organizational meeting
App § 17. Compensation of members of Board of Supervisors
App § 19. Telephone participation
App § 31. Compensation of officers
App § 33. Budget, appropriation, and assessment
App § 35. Limitations of appropriations
App § 38. Capital reserve fund
App § 46. Qualifications and registration of voters
App § 48. Reconsideration or rescission of vote
App § 49. Validation of District meetings
App § 51. Withdrawal of member municipality