[HISTORY: Adopted by the Board of Supervisors of the Township of North Codorus 12-28-2001 by Ord. No. 159-12-00. Amendments noted where applicable.]
A separate capital reserve fund is hereby created under and pursuant to the terms and provisions of Section 1508 of the Second Class Township Code. The Supervisors of North Codorus Township are authorized to budget and appropriate money for said capital reserve fund. Money so appropriated shall be deposited therein, and shall be invested and administered and shall be used only for the following purposes:
To build, improve and replace recreation buildings.
To acquire equipment of and for the Township and to replace any such equipment.
To acquire real estate for roads, bike trails, hike trails and for recreation purposes.
To improve existing Township buildings.
To contribute to improvement of a building for a regional police department, if any, in which the Township may become involved.
Editor's Note: See 53 P.S. § 66508.
Money for the aforesaid specific purposes may be drawn from the said capital reserve fund upon action duly authorized at a public meeting of the Supervisors of North Codorus Township, and upon both signatures of the Treasurer and of one Supervisor.