[HISTORY: Adopted by the Board of Supervisors of the Township of Pine 8-1-1994 by Ord. No. 223. Amendments noted where applicable.]
There is hereby created for the Township of Pine a Budgetary Reserve Account.
The Township Manager/Treasurer is hereby directed to deposit all funds received from the State Treasurer pursuant to Act 77 of 1993 for the period of the first calendar year in which the additional one-percent sales tax is in effect into such Budgetary Reserve Account.
Editor's Note: See 16 P.S. § 6101-B et seq.
Such Budgetary Reserve Account created by this chapter shall be maintained by the Township of Pine, and the funds therein shall be retained by the Township until such time as the Township's Board of Supervisors shall by resolution direct their expenditure, whether total or partial, in connection with an unanticipated fiscal emergency of the Township of Pine.
An unanticipated fiscal emergency as set forth in § 6-3 hereof may be defined to include but shall need not be limited to an unbudgeted or underbudgeted expense relating to:
The construction or extension of public water or public sewer lines to serve residents within the Township.
The construction, repair or maintenance (including winter maintenance) of public roads within the Township.
The purchase, lease, repair or maintenance of vehicles or other equipment necessary to protect the public health, welfare and safety.
Such other unanticipated fiscal emergency as may be defined by the Board of Supervisors in its resolution.