Text to be removed highlighted in red.
127:1 Capital Reserve Funds of Towns and Districts; Payments into Fund. Amend RSA 35:5 to read as follows:
35:5 Payments Into Fund. There may be paid into any such capital reserve fund, except as provided in RSA 35:7, such amounts as may from time to time be raised and appropriated therefor under a special warrant article, from any source other than money given to the town, district, or county for charitable purposes. Such amounts shall be within the limits as provided in RSA 35:8, and any such town, district, or county may also vote to transfer to said fund, under a proper special warrant article in the warrant in the case of a town or district, any of its unencumbered surplus funds remaining on hand at the end of any fiscal year.
127:2 Capital Reserve Funds of Towns and Districts; Appropriation. Amend RSA 35:12 to read as follows:
35:12 Appropriation. Whenever the vote of the town is to appropriate any sum for the capital reserve fund pursuant to RSA 35:5, the same duties shall devolve upon the town clerk, selectmen, and town treasurer, as specified in RSA 35:11, except that the order must be drawn, and the sum transferred on or before December 15 following the vote, or, in the case of an optional fiscal year town, after July 1, but no later than June 15, of the fiscal year for which the sum was appropriated.
127:3 New Paragraph; Municipal Budget Law; Lapse of Appropriation. Amend RSA 32:7 by inserting after paragraph II the following new paragraph:
II-a. The amount is appropriated to a capital reserve fund pursuant to RSA 35:5.
127:4 Municipal Budget Law; Transfer of Appropriation. Amend RSA 32:10, I (d) to read as follows:
(d) Any amount appropriated at the meeting under a special warrant article, or to a capital reserve fund pursuant to RSA 35:5, may be used only for the purpose specified in that article and shall not be transferred.
127:5 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 16, 2017
Effective Date: August 15, 2017
Text to be added highlighted in green.
127:1 Capital Reserve Funds of Towns and Districts; Payments into Fund. Amend RSA 35:5 to read as follows:
35:5 Payments Into Fund. There may be paid into any such capital reserve fund, except as provided in RSA 35:7, such amounts as may from time to time be raised and appropriated therefor under a special warrant article, from any source other than money given to the town, district, or county for charitable purposes. Such amounts shall be within the limits as provided in RSA 35:8, and any such town, district, or county may also vote to transfer to said fund, under a special warrant article in the case of a town or district, any of its unencumbered surplus funds remaining on hand at the end of any fiscal year.
127:2 Capital Reserve Funds of Towns and Districts; Appropriation. Amend RSA 35:12 to read as follows:
35:12 Appropriation. Whenever the vote of the town is to appropriate any sum for the capital reserve fund pursuant to RSA 35:5, the same duties shall devolve upon the town clerk, selectmen, and town treasurer, as specified in RSA 35:11, except that the order must be drawn, and the sum transferred on or before December 15 following the vote, or, in the case of an optional fiscal year town, after July 1, but no later than June 15, of the fiscal year for which the sum was appropriated.
127:3 New Paragraph; Municipal Budget Law; Lapse of Appropriation. Amend RSA 32:7 by inserting after paragraph II the following new paragraph:
II-a. The amount is appropriated to a capital reserve fund pursuant to RSA 35:5.
127:4 Municipal Budget Law; Transfer of Appropriation. Amend RSA 32:10, I (d) to read as follows:
(d) Any amount appropriated at the meeting under a special warrant article, or to a capital reserve fund pursuant to RSA 35:5, may be used only for the purpose specified in that article and shall not be transferred.
127:5 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 16, 2017
Effective Date: August 15, 2017