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A. The assembly may establish reserve accounts.

B. Reserve accounts of the borough include, but are not limited to, the capital improvement program and maintenance reserve. This reserve shall be used to account for cash and other assets placed into it periodically. Such funds are accumulated for projects included in the capital improvement program and include such things as major maintenance, repairs, upgrades, renovation or rehabilitation, expansion, demolition, and new construction of borough facilities. All expenditure of these funds must be made by appropriation ordinance. (Ord. 2021-14 § 5, 2021.)