The proper officers of the Borough are hereby authorized and
directed to establish and to maintain a separate municipal bank account,
designated as the "Budgetary Reserve Account," which shall be used
for the receipt and disbursement of those funds allocated to the Borough
of Port Vue from the imposition of the Allegheny County 1% sales and
use tax. The Council shall have the right to supplement this account
from other revenue sources when additional funds are available for
this purpose.
The funds on deposit in the Budgetary Reserve Account shall
be used exclusively for unanticipated fiscal emergencies which shall
include, but not be limited to, the following situations:
A. All appropriate costs related to severe snowstorms or other severe
or prolonged weather conditions, including those in which emergencies
are declared by the Governor or County Commissioners or this Borough
Council, such as:
(1) Additional purchases of materials or equipment, or the rental thereof,
overtime pay related thereto and other necessary and proper costs
incurred during or as a result of such unanticipated fiscal emergency.
(2) The cost of repairing and repaving Borough roads and street systems,
and water and sewer lines, which may be damaged as a result of such
severe weather conditions.
B. For such unanticipated fiscal emergencies as may be created by mandates
of the Pennsylvania Legislature which result in the addition of costs
or the reduction of revenues by such legislative acts where no alternative
state funding is provided therefor.
C. Unforeseen or unanticipated declines in revenues or a rapid decline
in revenues.
D. Unforeseen or unanticipated increases in expenditures not contemplated
in either the annual or the capital budgets where no alternative funding
is available.
E. The costs of other unanticipated fiscal emergencies as deemed appropriate
by Borough Council, duly authorized by resolution.
The proper officers of the Borough of Port Vue are hereby authorized
and directed to take all action necessary to implement this chapter.
Funds which are received in any one calendar year and remain
on deposit as of December 31 of the calendar year in which said funds
were received shall be retained by the Borough and remain on deposit
in the Budgetary Reserve Account for use in accordance with the provisions
of this chapter in each and every subsequent calendar year thereafter,
without lapsing.