[Adopted 8-14-2006 by Ord. No. 06-24]
It is recognized that the Town often undertakes the construction or renovation of schools, government buildings or other public projects pursuant to programs offered by the State of Connecticut or the federal government which provides reimbursement of all or a portion of the funds expended by the Town for such project. It is further recognized that the Town has in the past funded such projects through the issuance of bonds and may in the future fund such projects in a similar manner. Notwithstanding any other provision of the Code of the Town of Stratford, any funds received by the Town from either the state or federal governments as reimbursement for public projects undertaken by the Town after reimbursing any source of funds previously used by the Town to temporarily finance such public project shall be reserved or designated for the specific purpose of paying any bonds which have been issued by the Town for said project or for the purpose of paying for other public projects of a similar nature, as shall be determined by a majority of the Town Council.