§ 3651. Reserve fund. 1. A reserve fund may be established by the school authorities of any school district, provided, however, that no such fund shall be established (a) until approved by a majority vote of the qualified voters of the district voting on a proposition therefor submitted at a regular or special school district […]
§ 3652. Investment of moneys in reserve funds. The school authorities of any school district or the district treasurer or other officer having custody of the moneys, if the school authorities shall delegate such duty to him, may invest moneys in any fund established pursuant to this article in the manner provided by section eleven […]
* § 3653. Insurance reserve funds. In addition to the provisions of this article and to the provisions of section six-n of the general municipal law, any school district that establishes and maintains an insurance reserve fund to make expenditures from such reserve fund for any loss, claim, action, or judgment for which the school […]
* § 3653. Reserves funded by resolution. In addition to any other requirements, no monies shall be paid or transferred into any reserve fund, established pursuant to this chapter or any other chapter of law, for the purpose of increasing the funding of such reserve fund, unless expressly authorized by a resolution of the board […]
