[HISTORY: Adopted by the Board of Supervisors of the Township of
Kidder 11-15-1983 by Ord. No. 39. Amendments
noted where applicable.]
Be it ordained and enacted by the Board of Supervisors of the Township
of Kidder and it is hereby ordained and enacted by authority of the same,
that a fund is hereby created to be known as the “Capital Reserve Fund
of the Township of Kidder for Anticipated Capital Expenditures,” and
to be administered subject to the approval of the Board of Supervisors of
the Township of Kidder.
Monies in the said Capital Reserve Fund shall be used from time to time
for the construction, purchase or replacement of or addition to municipal
buildings, equipment, machinery, motor vehicles, or other capital assets and
for the construction, reconstruction and replacement of highways, underpasses,
overpasses, sewers, sewage systems, sewage treatment facilities, refuse disposal
facilities, air pollution facilities, water collection, storage, purification
and distribution facilities, bridges, road improvements, viaducts, general
government buildings, utilities, parks and recreational facilities, public
safety facilities, including but not limited to streetlighting and fire alarm
systems and traffic signals, for the purpose of purchasing real property,
and the preparation and/or improvement of said lands for any legal purpose.
In order that said fund can be financed and budgeted, monies may be
appropriated from the general Township funds or from any other source authorized
by the Second Class Township Code or other applicable law pertaining to the
same, and that the investment of any monies in said fund shall be invested
in securities as prescribed by law as legal investments for sinking funds
for municipalities.
The Secretary and/or Township Manager of the Township of Kidder shall
cause to be prepared a Capital Expenditure Budget consisting of anticipated
revenues or capital improvement appropriations and shall cause the same to
be presented to the Board of Supervisors of the Township of Kidder for their
approval.
