Title 7 — Title 7: Municipalities
46 chapters · 1,137 sections in this title.
Conn. Gen. Stat. § 7-359 Definitions.
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Sec. 7-359. Definitions. When used in this chapter, “municipality” means any town, city or borough, whether consolidated or unconsolidated, and any fire district, and “budget-making authority”, as applied to towns, cities and boroughs, whether consolidated or unconsolidated, havi…
Conn. Gen. Stat. § 7-360 Creation of fund.
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Sec. 7-360. Creation of fund. Upon the recommendation and approval of the budget-making authority, the legislative body of any municipality, by a majority vote, may create a reserve fund for capital and nonrecurring expenditures, costs associated with a property tax revaluation a…
Conn. Gen. Stat. § 7-361 Procurement of fund.
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Sec. 7-361. Procurement of fund. Upon the recommendation of the budget-making authority and approval by the legislative body, there shall be paid into such reserve fund (a) amounts authorized to be transferred thereto from the general fund cash surplus available at the end of any…
Conn. Gen. Stat. § 7-362 Investment of fund.
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Sec. 7-362. Investment of fund. The budget-making authority may, from time to time, direct the treasurer to invest, such portion of such fund as in its opinion is advisable, provided: (1) Not more than thirty-one per cent of the total amount invested shall be invested in equity s…
Conn. Gen. Stat. § 7-363 Information re fund.
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Sec. 7-363. Information re fund. The treasurer shall annually make available information and data on the condition of such fund to the budget-making authority and to the public and such information and data may be made a part of the annual report of the municipality. (1949 Rev., …
Conn. Gen. Stat. § 7-364 Use of fund.
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Sec. 7-364. Use of fund. Upon the recommendation of the budget-making authority and approval by the legislative body, any part or the whole of such fund may be used for (1) capital and nonrecurring expenditures, but such use shall be restricted to the financing of all or part of …
Conn. Gen. Stat. § 7-365 Termination of appropriation.
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Sec. 7-365. Termination of appropriation. If any authorized appropriation is set up pursuant to the provisions of section 7-364 and through unforeseen circumstances the completion of the project or acquisition for which such appropriation has been designated is impossible of atta…
Conn. Gen. Stat. § 7-366 Appropriation when reserve fund insufficient.
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Sec. 7-366. Appropriation when reserve fund insufficient. If, in the opinion of the budget-making authority, such reserve fund is insufficient to meet the cost of any capital or nonrecurring expenditure, property tax revaluation or plan of conservation and development which it de…
Conn. Gen. Stat. § 7-367 Amount of fund not to exceed current tax levy.
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Sec. 7-367. Amount of fund not to exceed current tax levy. No payments shall be made to the reserve fund as provided for in section 7-361 which will cause the amount of such fund to exceed the current tax levy of the municipality, except for the addition of interest and dividends…
Conn. Gen. Stat. § 7-368 Discontinuance of reserve fund.
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Sec. 7-368. Discontinuance of reserve fund. Said reserve fund may be discontinued, after recommendation by the budget-making authority to the legislative body and upon approval of said body, and said fund shall be converted into, or added to, a sinking fund to provide for the ret…