§ 1212. POLICY FOR RESERVE MANAGEMENT.

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The Council shall establish a specific reserve management policy to control future spending, enhance the City's credit rating, and establish reserve policies to meet the City's debt obligations. An affirmative vote of at least five members of the Council shall be required for amendment to the policy.

The Council shall establish a fund known as the "Unappropriated Reserve Fund" for the purpose of meeting unforeseen contingencies and emergencies of the City for such amount as established by the Council. Said fund shall remain intact except by the affirmative vote of at least five members of the Council with a statement declaring the reason for its use.

(Amendment ratified 2012 General Municipal Election, 11-6-12.)

                    
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