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1 Capital Reserve Funds; 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. In lieu of the requirement that any amount paid into a capital reserve fund shall be annually raised and appropriated under a special warrant article, the legislative body of the municipality may authorize future payments into the municipality's capital reserve funds through appropriations contained within the operating budget, which authority may be granted for an indefinite period, in which case the warrant article granting such authority shall use the words, "indefinitely, until rescinded" or similar language.
2 Effective Date. This act shall take effect 60 days after its passage.
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1 Capital Reserve Funds; 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. In lieu of the requirement that any amount paid into a capital reserve fund shall be annually raised and appropriated under a special warrant article, the legislative body of the municipality may authorize future payments into the municipality's capital reserve funds through appropriations contained within the operating budget, which authority may be granted for an indefinite period, in which case the warrant article granting such authority shall use the words, "indefinitely, until rescinded" or similar language.
2 Effective Date. This act shall take effect 60 days after its passage.