Solid waste facility reserve fund

§ 2050-uu. Solid waste facility reserve fund. The legislative bodies of the towns may establish a special fund, to be known as solid waste facility reserve fund of such town. There shall be credited to such reserve fund all amounts paid to such town and specifically designated by the payor for deposit in such reserve fund, together with such town moneys as may be appropriated thereto from time to time. Moneys in such reserve funds may be appropriated only for the purpose of paying amounts due from the town under the terms of any contract entered into pursuant to this title or for the construction, operation or closure of solid waste management facilities within the town, for which an insufficient or no provision has otherwise been made, except that upon the adoption of a resolution by at least a two-third vote of the voting strength of such towns legislative body, all or any portion of the moneys in such reserve fund may be transferred to any other reserve fund established by the town pursuant to the general municipal law. To the extent not inconsistent with the provisions of this section, the management of such reserve fund and the investment of moneys therein shall be subject to the provisions of section six-h of the general municipal law.