A restricted fund was created in December 2022 for the control
and investment of $10,000,000 received from the sale of the sewer
system to PA American Water, the principal nor any part of the principal
of which may not used or expended unless upon authorization of a majority
vote of the qualified electors of the Borough of Kane.
A controlled fund was created in December 2022 for the control
and investment of $2,713,612.78 from the sale of the sewer system
to PA American Water as well as all income that may arise from the
investment of the restricted funds. These funds may only be used or
expended upon authorization of a majority vote of the Borough Council.