17-36-46 - Reserve fund for capital improvements -- Creation -- Purpose -- Limitation.
17-36-46. Reserve fund for capital improvements -- Creation -- Purpose --Limitation.
(1) The legislative body of any county may establish and maintain, by ordinance, acumulative reserve fund to be accumulated by levy for the purpose of financing the purchase ofreal property and the cost of planning, constructing or rehabilitating public buildings or otherpublic works and capital improvements.
(2) (a) Before a reserve fund under Subsection (1) may be established, the countylegislative body shall designate by ordinance the specific purpose for which the fund isestablished.
(b) Except as provided in Section 17-36-50, all funds in a reserve fund under Subsection(1) shall be expended for the designated purposes.
Renumbered and Amended by Chapter 133, 2000 General Session