RESOLUTION CREATING HIGHWAY EQUIPMENT CAPITAL RESERVE FUND

	RESOLVED, that pursuant to Section 6-c of the General Municipal Law, as amended, the Town Board of the Town of Sodus (the “Town”) does hereby establish a Capital Reserve Fund to finance the cost of acquisition of highway equipment.  The Supervisor is hereby authorized to deposit moneys of this reserve fund in a separate bank account to be known as the Highway Equipment Capital Reserve Fund (the “Fund”).  The Supervisor is authorized to deposit, secure and invest the moneys of this Fund pursuant to General Municipal Law §§10 and 11.  No expenditure shall be made from the Fund, except upon authorization of the Town Board, and pursuant to the referendum requirements of General Municipal Law §6-c.  This resolution is subject to permissive referendum.  
	
	BE IT FURTHER RESOLVED, that Town highway moneys designated for acquisition of equipment may be deposited in the Fund, provided the Town Superintendent of Highways and the Wayne County Superintendent of Highways consent to the establishment of the Fund, and such funds are only expended on order of the Town Superintendent of Highways, upon audit and with consent of the Town Board.

CONSENT TO HIGHWAY EQUIPMENT CAPITAL RESERVE FUND

	I consent to the establishment of the Highway Equipment Capital Reserve Fund by the Town of Sodus, pursuant to General Municipal Law §6-c(5)(b).

Dated: __________, 2022				_____________________________
							Dale Pickering
							Sodus Town Superintendent of Highways

Dated: _________, 2022				_____________________________
							Kevin Rooney
Wayne County Superintendent of Highways