[Adopted 12-6-2004 by Res. No. 630-2004]
Pursuant to General Municipal Law § 6-r, there is hereby established a Retirement Contribution Reserve Fund to enable the County to finance future retirement contributions.
Amounts, including all amounts contained in various retirement line items in the Albany County Budget, shall be deposited into this fund.
The Albany County Commissioner of Management and Budget is authorized to invest, from time to time, the moneys of this fund pursuant to General Municipal Law § 11.
No expenditure shall be made except upon authorization by the Albany County Legislature in compliance with the requirements of General Municipal Law § 6-r.