Sec. 7-366. Appropriation when reserve fund insufficient.
Sec. 7-366. Appropriation when reserve fund insufficient. If, in the opinion of
the budget-making authority, such reserve fund is insufficient to meet the cost of any
capital or nonrecurring expenditure which it deems immediately necessary, it may, with
the approval of the legislative body, authorize that an appropriation be made therefor,
provided the total of such fund and the sum anticipated from a tax collected for the
purposes of sections 7-360 to 7-364, inclusive, in the year following the date when such
authorization is made is estimated by said budget-making authority to be sufficient to
meet such expenditures. Nothing in said sections shall prohibit a municipality from
supplementing said reserve fund to meet the cost of capital or nonrecurring expenditures
by issuing bonds in accordance with the applicable provisions of the statutes.
(1949 Rev., S. 799.)