(a) Pursuant to Section 3156 B of Act 77 of 1993, a budgetary reserve was established for the purpose of retaining disbursements received by the Borough of White Oak during the calendar year of 1994, of tax moneys under Section 3157 B of Act 77.
(b) The money disbursed to the Borough was retained in the budgetary reserve account, without lapsing, for use during unanticipated emergencies during fiscal year 1995 or thereafter.
(c) An unanticipated emergency is defined as any of the following:
(1) Unexpected costs resulting from breakage, damage, or malfunction of any municipality owned structure, utility, road, property or improvement;
(2) Unexpected costs incurred because of unusual weather conditions or personnel requirements arising from injury, illness or other unexpected reasons;
(3) Exhaustion of the funds budgeted for an individual item in any fiscal year.
(Ord. 3331. Passed 2-11-04.)