§ 6-o. Solid waste management facility reserve funds. The governing
body of a municipality may establish a fund, to be known as a solid
waste management facility reserve fund of such municipality. There shall
be deposited in such reserve fund such amounts as such governing body
shall from time to time deem appropriate, which may include, but need
not be limited to, such percentage of fees received by such municipality
from the operation of municipally owned or operated solid waste
management facilities as defined in title seven of article twenty-seven
of the environmental conservation law, as deemed appropriate by such
municipality. Moneys in the solid waste management facility reserve fund
shall be deposited and secured in the manner provided by section ten of
this article and shall be appropriated only for the purpose of paying
amounts due for the design, construction and operation, of solid waste
management facilities owned or operated by such municipality, and for
closure, or post-closure care, including operation and maintenance
expenses of solid waste management facilities owned or operated by or on
behalf of such municipality. The management of a solid waste management
facility reserve fund established pursuant to this section and shall be
subject to the provisions of subdivision seven, eight and ten of section
six-h of this article and the investment of moneys therein shall be
subject to the provisions of section eleven of this article. The
governing board of a municipality may authorize the transfer of funds
from the solid waste management facility reserve fund to the credit of
another capital reserve fund if the unexpended balance remaining in the
fund established for a specific capital improvement has been completed,
after deducting from such balance a sum sufficient to satisfy all
outstanding claims arising from the construction, reconstruction or
acquisition of such capital improvement. For the purposes of this
section the term "municipality" shall mean a municipal corporation, as
defined in section two of this chapter or any designated agency thereof,
or a solid waste management district, public authority or public benefit
corporation having power to construct, operate and maintain a solid
waste management facility.