2015 Connecticut General Statutes
Title 7 - Municipalities
Chapter 108 - Municipal Reserve Fund
Section 7-360 - Creation of fund.
Upon the recommendation and approval of the budget-making authority, the legislative body of any municipality, by a majority vote, may create a reserve fund for capital and nonrecurring expenditures and costs associated with a property tax revaluation. Such fund shall thereafter be termed “reserve fund for capital and nonrecurring expenditures”.
(1949 Rev., S. 793; P.A. 15-229, S. 2.)
History: P.A. 15-229 added costs associated with property tax revaluation to purposes for establishing reserve fund.
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