[NRO 1975, T. 4, § 1201; NRO 1987, § 2-781]
There shall be five trustees of trust funds and capital reserve funds consisting of the Mayor, the President of the Board of Aldermen, the Finance Officer and two other members to be appointed by the Mayor subject to the approval of the Board of Aldermen. The appointed members shall hold office for a period of two years. Each trustee shall hold office until his successor is appointed and qualified unless sooner removed.
[NRO 1975, T. 4, § 1202; NRO 1987, § 2-782]
The trustees of trust funds and capital reserve funds shall perform the duties prescribed by RSA Chapter 34.
[NRO 1987, § 2-783; added 11-26-1985 by Ord. No. O-85-198]
Pursuant to the provisions of RSA chapter 34, the Board of Aldermen may from time to time raise and appropriate money or transfer money from surplus funds to the street and roadway savings plan/capital reserve fund hereby established for the purpose of financing all or part of the cost of the study, design or construction of new or expanded streets, roadways or intersections intended to increase traffic flow, provide greater accessibility or otherwise improve the road network within the City, and not to be expended for ordinary maintenance or upkeep.
[NRO 1987, § 2-784; added 11-26-1985 by Ord. No. O-85-198]
Expenditures and disbursements from the street and roadway savings plan/capital reserve fund shall be made in accordance with RSA Chapter 34 and Section 77-a of the City Charter.
[NRO 1975, T. 4, § 1205; NRO 1987, § 2-785; amended 8-12-1986 by Ord. No. O-86-87]
Pursuant to the provision of New Hampshire Revised Statutes Annotated, Chapter 34, the Board of Aldermen may from time to time raise and appropriate money or transfer money from surplus funds to the land acquisition capital reserve fund hereby established for the purpose of financing future acquisition of land necessary for municipal purposes and including expenditure for any preliminary studies, surveys, designs or tests. Expenditures and disbursements from the land acquisition capital reserve fund shall be made in accordance with NHRSA Chapter 34 and, where applicable Section 77-a of the City Charter.[1]
[1]
Editor's Note: Original Sec. 2-786, School buildings and construction capital reserve account, which immediately followed this section, was repealed 7-12-2005 by Ord. No. O-05-76.
[Added 6-9-2015 by Ord. No. O-14-025]
A. 
The City has a Capital Equipment Reserve Fund under RSA Chapter 34, originally established by resolution in 1968. The purpose of the Capital Equipment Reserve Fund is to provide a means of systematically replacing all City capital equipment without having to appropriate money from current expenses.
B. 
The administration shall maintain an ongoing list of equipment intended to be covered by and replaced from the Capital Equipment Reserve Fund. This list shall include the estimated replacement value of the equipment and the purpose for which the equipment is used along with other vehicle specific details.
C. 
Annually, as part of the budget resolution, the Board of Aldermen will approve the proposed equipment to be purchased through the Capital Equipment Reserve Fund during the budget year under review.
D. 
During that fiscal year, the City may purchase that equipment, or equipment that will serve the same stated purpose as the listed equipment, as long as the price does not vary by more than 10% of the estimated replacement value. All purchases from the Capital Equipment Reserve Fund must comply with the City's purchasing approval process. Any other requests to use funds from the Capital Equipment Reserve Fund must be approved by the Board of Aldermen.