Current as of January 01, 2020 | Updated by FindLaw Staff
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(a) The Board may establish and provide for a capital reserve fund to pay for public improvements, replacement of worn-out buildings and equipment, and major repairs of Authority facilities.
(b) Any such capital reserve fund shall be kept in a separate account and invested as are other public funds and shall be expended for such purposes for which established.
(c) The cost of payments to any capital reserve fund shall be included in the annual budget of the Authority.
Cite this article: FindLaw.com - Vermont Statutes Title 24 (Appendix). Municipal Charters, App. c. 901 § 35. Capital reserve fund - last updated January 01, 2020 | https://codes.findlaw.com/vt/title-24-app-municipal-charters/vt-st-tit-24-app-c-901-sect-35/
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