[Adopted 4-2-2019 by Ord.
No. 1360, approved 4-2-2019]
There shall be established in the Borough of Middletown (hereinafter
the "Borough") a stabilization fund pursuant to the authority set
forth in 8 Pa.C.S.A. § 1202(23) for the creation of an operating
reserve fund and 8 Pa.C.S.A. § 1313.1 for the creation of
special funds and investments. The Borough shall set aside money in
the stabilization fund for the payment of unforeseen and unfunded
emergency expenses of the Borough related to the health, safety and
welfare of Borough residents. The administration, control, investment
and expenditure of the stabilization fund by Borough Council shall
be in accordance with this chapter.