[Adopted 12-21-1999 by L.L. No. 21-1999 (Ch. 23, Art. IV, of the 1995
Code)]
This article is entitled "Equipment Reserve Fund of the Town
of Ogden."
This article is established pursuant to the authority granted
to the Town Board pursuant to § 55 of the Town Law and § 11.00
of the Local Finance Law of the State of New York.
The specific object or purpose of this article is to establish
an equipment reserve fund for the Highway Fund for the purposes of
funding future equipment purchases and repair and replacement of existing
equipment of the Town of Ogden.
Any expenditure from the fund shall only be made by resolution
of the Town Board; which resolution shall be subject to a permissive
referendum as provided for by the Town Law. No expenditure of funds
shall be authorized which are not in compliance with the provisions
of § 11.00 of the Local Finance Law.
