Sec. 7-364. Use of fund.
Sec. 7-364. Use of fund. Upon the recommendation of the budget-making authority and approval by the legislative body, any part or the whole of such fund may be used
for capital and nonrecurring expenditures, but such use shall be restricted to the financing
of all or part of the planning, construction, reconstruction or acquisition of any specific
capital improvement or the acquisition of any specific item of equipment. Upon the
approval of any such expenditure an appropriation shall be set up, plainly designated
for the project or acquisition for which it has been authorized, and such unexpended
appropriation may be continued until such project or acquisition is completed. Any
unexpended portion of such appropriation remaining after such completion shall revert
to said reserve fund.
(1949 Rev., S. 797.)