Maine § 30-A §5801 Establishment

Maine Statutes

§ 30-A §5801 — Establishment

Maine § 30-A §5801

Title 30-AMUNICIPALITIES AND COUNTIES

Part 2MUNICIPALITIES

Ch. 223MUNICIPAL FINANCES

This text of Maine § 30-A §5801 (Establishment) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 30-A, § 30-A §5801 (2026).

Text

A municipality may establish a reserve fund, consisting of one or more accounts, by appropriating money or by authorizing the transfer of unencumbered surplus funds at the end of any fiscal year for the following purposes:

1.Capital improvement account. Financing the acquisition or reconstruction of a specific, or a type of, capital improvement;

2.Capital equipment account. Financing the acquisition of a specific item or type of capital equipment;

3.Credit reserve account. Providing a reserve which may be applied in periods of financial emergency to assist in continuing its normal operation without increasing the tax rate.

4.Sinking fund account. Paying a funded debt.

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A municipality may establish a reserve fund, consisting of one or more accounts, by appropriating money or by authorizing the transfer of unencumbered surplus funds at the end of any fiscal year for the following purposes:
1.
Capital improvement account.
Financing the acquisition or reconstruction of a specific, or a type of, capital improvement;
2.
Capital equipment account.
Financing the acquisition of a specific item or type of capital equipment;
3.
Credit reserve account.
Providing a reserve which may be applied in periods of financial emergency to assist in continuing its normal operation without increasing the tax rate.
4.
Sinking fund account.
Paying a funded debt.