2052-U - Solid waste reserve fund.
§ 2052-u. Solid waste reserve fund. The legislative bodies of any of the local governments may establish a special fund, to be known as the solid waste reserve fund of such local government. There shall be credited to such reserve fund all amounts paid to such local government and specifically designated by the payor for deposit in such reserve fund, together with such moneys of such local government as may be appropriated thereto from time to time. Moneys in such reserve fund may be appropriated only for the purpose of paying amounts due from any such local government under the terms of any contract entered into pursuant to this title, for which an insufficient or no provision has otherwise been made, except that upon the adoption of a resolution by at least a two-thirds vote of the voting strength of the legislative body of such local government, all or any portion of the moneys in such reserve fund may be transferred to any other reserve fund established by such local government pursuant to the general municipal law. To the extent not inconsistent with the provisions of this section, the management of such reserve fund and the investment of moneys therein shall be subject to the provisions of section six-h of the general municipal law.