2041-U - Solid waste reserve fund. - New York Statutes

§ 2041-u. Solid waste reserve fund. The legislative body of each participating county may establish a special fund, to be known as the solid waste reserve fund of that county. There shall be credited to such reserve fund all amounts paid to the participating county and specifically designated by the payor for deposit in such reserve fund, together with such county moneys as may be appropriated thereto from time to time. Moneys in such reserve funds may be appropriated only for the purpose of paying amounts due from the county under the terms of any contract entered into pursuant to this title, for which an insufficient or no provision has otherwise been made, except that upon the adoption of a resolution by at least a two-thirds vote of the voting strength of the participating county's legislative body, all or any portion of the moneys in such reserve fund may be transferred to any other reserve fund established by the county pursuant to the general municipal law. To the extent not inconsistent with the provisions of this section, the management of such reserve fund and the investment of moneys therein shall be subject to the provisions of section six-h of the general municipal law.