[Adopted 2-13-2006 by Ord. No. 2005-29]
In accordance with the Rhode Island General Laws of 1956, as amended, § 23-19-13, there shall be a tipping fee of $3 per vehicle collected by Rhode Island Resource Recovery Corporation and paid to the Town of Johnston on a biannual basis.
A. 
In accordance with Rhode Island General Laws of 1956, as amended, § 45-11-1, the Johnston Town Council has previously established a reserve fund for capital expenditures that is available to the Town at the sole discretion of the Town Council by majority vote and shall not be used for, held, pledged, contracted for, or obligated in any manner whatsoever without prior consent of the majority of the Town Council.
B. 
Any and all fees, revenues, monies, or payments of every kind and description, whether by contract or otherwise, received by the Town of Johnston pursuant to the Rhode Island General Laws of 1956, as amended, §23-19-13, to be further referred to as the "Rhode Island resource recovery tipping fees," shall be deposited by the Finance Director into said reserve fund account.
Upon passage, the Finance Director is hereby directed to report to the Town Council, on a biannual basis or as deposits are made, as to the amount of principle and interest held in said reserve fund, more specifically as to the monies that have been deposited pursuant to the Rhode Island General Laws of 1956, as amended, § 23-19-13, and further known as "Rhode Island resource recovery tipping fees."