[HISTORY: Adopted by the Borough Council of the Borough of Port Vue 11-14-1994 by Ord. No. 454-A (Ch. 1, Part 9, of the 1989 Code of Ordinances). Amendments noted where applicable.]
The proper officers of the Borough are hereby authorized and directed to establish and to maintain a separate municipal bank account, designated as the "Budgetary Reserve Account," which shall be used for the receipt and disbursement of those funds allocated to the Borough of Port Vue from the imposition of the Allegheny County 1% sales and use tax. The Council shall have the right to supplement this account from other revenue sources when additional funds are available for this purpose.
The funds on deposit in the Budgetary Reserve Account shall be used exclusively for unanticipated fiscal emergencies which shall include, but not be limited to, the following situations:
A. 
All appropriate costs related to severe snowstorms or other severe or prolonged weather conditions, including those in which emergencies are declared by the Governor or County Commissioners or this Borough Council, such as:
(1) 
Additional purchases of materials or equipment, or the rental thereof, overtime pay related thereto and other necessary and proper costs incurred during or as a result of such unanticipated fiscal emergency.
(2) 
The cost of repairing and repaving Borough roads and street systems, and water and sewer lines, which may be damaged as a result of such severe weather conditions.
B. 
For such unanticipated fiscal emergencies as may be created by mandates of the Pennsylvania Legislature which result in the addition of costs or the reduction of revenues by such legislative acts where no alternative state funding is provided therefor.
C. 
Unforeseen or unanticipated declines in revenues or a rapid decline in revenues.
D. 
Unforeseen or unanticipated increases in expenditures not contemplated in either the annual or the capital budgets where no alternative funding is available.
E. 
The costs of other unanticipated fiscal emergencies as deemed appropriate by Borough Council, duly authorized by resolution.
The proper officers of the Borough of Port Vue are hereby authorized and directed to take all action necessary to implement this chapter.
Funds which are received in any one calendar year and remain on deposit as of December 31 of the calendar year in which said funds were received shall be retained by the Borough and remain on deposit in the Budgetary Reserve Account for use in accordance with the provisions of this chapter in each and every subsequent calendar year thereafter, without lapsing.