There is hereby established in the office of the Clerk-Treasurer, the Levy Excess Fund. These funds are to be taken from the tax draw for General, Park and Recreation, and Cumulative Capital Development Funds. The action occurs when the town receives tax levy in excess of what it is supposed to; therefore, the money is set aside in this Fund and in the following year. When this is taken from the tax draw, the money is transferred from the Levy Excess Fund to the appropriate funds.
(Ord. 2002-14, passed 10-28-2002)