A06809 amends laws to establish repair reserve funds for municipal corporations, school districts, and other entities.
A06809 amends the general municipal law and the education law to establish repair reserve funds for municipal corporations, school districts, boards of cooperative educational services, district corporations, and improvement districts. These funds are to be used exclusively for emergency repairs of capital improvements or equipment. The bill requires public notice and a hearing before appropriating funds from these reserves. It also mandates that boards of cooperative educational services provide specific notifications and reports regarding emergency repairs. The act takes effect immediately.
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