[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:
Any appropriation made by the Town Council which is not a
specific appropriation within the meaning of this article.
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.
General appropriations made by the Town Council
shall continue to revert to the general fund at the close of the fiscal
year for which they are made, as provided by 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.
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.
