2005 Connecticut Code - Sec. 7-368. Discontinuance of reserve fund.
Sec. 7-368. Discontinuance of reserve fund. Said reserve fund may be discontinued, after recommendation by the budget-making authority to the legislative body
and upon approval of said body, and said fund shall be converted into, or added to, a
sinking fund to provide for the retirement of its nonserial bonded indebtedness. If the
municipality has no bonded indebtedness, such fund shall be transferred to the general
fund of the municipality.
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