The proper officials of the borough are authorized to open an account
for receipt of funds pursuant to Act 77.
All funds received by the borough pursuant to the Allegheny County Regional
Sales Tax for 1994 shall be deposited therein and are specifically designated
for said fund. Such proceeds or receipts shall not be deemed to be and may
not be counted as 1995 receipts on account of such regional sales tax proceeds.
Such funds shall not be subject to mandatory tax relief as set forth in said
Act of Assembly but may be budgeted by the borough for use in the next full
fiscal year period, or may be retained in said account for use
during unanticipated fiscal emergencies as further provided for.
The effective date of this chapter shall be September 1, 1994.