[HISTORY: Adopted by the Town Board of the
Town of Chautauqua 7-13-1981. Amendments noted where applicable.]
Pursuant to § 6-c of the General Municipal
Law, the Town Board of the Town of Chautauqua does hereby establish
a Capital Reserve Fund to finance the cost of acquisition of lands.
The Supervisor is hereby directed to deposit
moneys of this reserve fund in a separate bank account to be known
as "Land Reserve Fund."[1]
[1]
Editor's Note: Former § 10-3, Investment of moneys, of the 1993 Code, which immediately followed this section, was repealed at time of adoption of Code (see Ch. 1, General Provisions, Art. I). This local law also provided for the redesignation of former §§ 10-4 through 10-6 of the 1993 Code as §§ 10-3 through 10-5, respectively.
The money in the capital reserve fund established
by said resolution of April 12, 1976, is hereby transferred to the
Capital Reserve Fund herein created.
No expenditure shall be made from the fund herein
created except upon authorization of the Town Board pursuant to § 6-c
of the General Municipal Law.
This chapter is made to legitimize said resolution
of the Board made on the 12th day of April 1976.
