[Adopted 10-11-1994 by Ord. No. 6-1994 (Ch. XXIV, Part 4,
of the 1976 Code of Ordinances)]
The Borough of Verona hereby creates and establishes a budgetary
reserve account pursuant to Section 3156-B of Act 77 of 1993,[2] and all revenues received from the sales tax authorized
by said Act are to be deposited in this budgetary account.
The budgetary reserve account created by this article shall
be maintained by the Borough and the funds therein shall be retained
by the Borough until such time as the Borough shall, by resolution,
direct their expenditure, whether total or partial, for payment of
unanticipated fiscal emergencies, and said payments made pursuant
to this article shall not be subject to the requirements of Act 77
regarding the utilization of disbursements.
An unanticipated fiscal emergency shall include, but not be
limited to, all appropriate costs related to adverse snowstorms or
weather conditions specifically included in those emergencies as declared
by the Governor or the Commonwealth of Pennsylvania, the County Commissioners
for Allegheny County or Mayor and Council of the Borough of Verona,
such as excess purchases of materials or equipment, or rental thereof,
overtime pay related thereto and other necessary and proper costs
incurred as a result of such unanticipated fiscal emergencies. Unanticipated
fiscal emergencies shall also include the cost of repairing and repaving
Borough roads, water and sewer lines which may be damaged as a result
of severe weather conditions, and the cost of any other unanticipated
fiscal emergency, as deemed appropriate by Mayor and Council.
