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§ 66508. Capital reserve fund

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 53 P.S. Municipal and Quasi-Municipal Corporations

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 53 P.S. Municipal and Quasi-Municipal Corporations
Part X. Townships of the Second Class
Chapter 141. Second Class Township Code (Refs & Annos)
Article XV. Corporate Powers
53 P.S. § 66508
§ 66508. Capital reserve fund
Currentness
(a) The board of supervisors may create and maintain a separate capital reserve fund for any anticipated capital expenses, which fund shall be designated for a specific purpose or purposes when created. The moneys in the fund shall be used for no other purpose unless the board of supervisors declares that conditions in the township make other expenses more urgent than those for which the fund was created.
(b) The board of supervisors may appropriate moneys from the general township funds to be paid into the capital reserve fund or place in the fund any moneys received from the sale, lease or other disposition of any township property or from any other source.

Credits

1933, May 1, P.L. 103, No. 69, § 1508. Reenacted and amended 1995, Nov. 9, P.L. 350, No. 60, § 1, effective in 180 days.
53 P.S. § 66508, PA ST 53 P.S. § 66508
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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