The Town Board does hereby authorize the establishment of a reserve
fund, pursuant to § 6-j of the General Municipal Law, to be known
as the "Workers' Compensation Reserve Fund."
The fund shall be created in 2003 with the deposit of $500,000. In each
successive year, the sum of $100,000 shall be deposited in the fund until
the fund reaches the sum of $1,000,000. Thereafter, the fund shall be replenished
annually so that the fund continues to be in the sum of $1,000,000.