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Montour board establishes Building Reserve Fund; transfers Town Hall Reserve Fund
Summary
The Town Board unanimously approved transferring the Town Hall Reserve Fund into a newly created Building Reserve Fund under General Municipal Law section 6-c, designated to finance Town Hall, Town Garage, Highway facilities and a Salt Storage Shed with an estimated maximum cost of $300,000; the transfer and establishment are subject to permissive referendum.
The Town of Montour Board voted June 10, 2025 to transfer the unexpended balance of the Town Hall Reserve Fund into a new Building Reserve Fund and to formally establish the Building Reserve Fund under section 6‑c of the New York General Municipal Law. Councilperson Brian Stamp moved both resolutions and Councilperson Robert Simpson seconded; both measures passed Ayes 5, Noes 0.
Resolution #29 specifies the purpose of the Building Reserve Fund as financing construction of and/or improvements to the Town Hall, Town Garage, Highway Department facilities and the Salt Storage Shed, and lists the estimated maximum cost of the capital improvement as $300,000. The resolutions state that expenditures from the reserve will require board approval and any additional actions required by section 6‑c; both resolutions are subject to permissive referendum under subdivision 4 of section 6‑c of the General Municipal Law.
