17-63-803. Reserve fund for capital improvements -- Creation -- Purpose -- Limitation.
(1) The legislative body of any county may establish and maintain, by ordinance, a cumulative reserve fund to be accumulated by levy for the purpose of financing the purchase of real property and the cost of planning, constructing or rehabilitating public buildings or other public works and capital improvements.
(2) Before a reserve fund under Subsectionmay be established, the county legislative body shall designate by ordinance the specific purpose for which the fund is established. (1) Except as provided in Section, all funds in a reserve fund under Subsectionshall be expended for the designated purposes. 17-63-805 (1)