Earnings may be withheld from the annual earnings of the various revenue bond trusts to be placed in Special Local Reserve Accounts to be expended for items encumbered in the previous fiscal year with the specific written permission of the Trustee on a case by case basis, provided that there exists, at the close of the fiscal year, sufficient earnings to meet the then required Trust Agreement payments.
| History | ||
| Prior: | 04/02/79 01/28/82 |
|
| Adopted: | 01/27/84 |