[Adopted 11-7-1981, approved 2-23-1982 (Art. XIV of Ch. II of the General Ordinances as updated through 7-7-2003)]
As used in this article, the following words shall have the following meanings:
GENERAL APPROPRIATION
Any appropriation made by the Town Council which is not a specific appropriation within the meaning of this article.
SPECIFIC APPROPRIATION
An appropriation made by the Town Council which is described within the vote making the appropriation as being "specific," and is otherwise a specific appropriation under the law.
Unless otherwise provided in a vote of the Town Council making a specific appropriation, or unless a specific appropriation has been encumbered by contractual obligations, specific appropriations shall have a normal life of three years from the commencement of the fiscal year for which it was approved. At the end of the third fiscal year, any funds remaining in the appropriation shall revert to the general fund. A vote making a specific appropriation may provide that the appropriation shall revert to the general fund at the end of any fiscal year.
The Town may, at any time by appropriate action by the Town Council, extend the date on which a specific appropriation would otherwise revert to the general fund.
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Editor's Note: Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. III).
Nothing in this article shall be construed to affect the right of any creditor of the Town, regardless of the reversion of any appropriation to the general fund.