relative to the use of capital reserve funds.

HB 1147 reinstates requirements for local governments (counties, towns, districts, and water departments) using capital reserve funds to make multiple payments under lease/purchase agreements. It requires such agreements to contain no "escape clause" or "non-appropriation clause" and mandates approval by a 2/3 vote of the legislative body at a public meeting. The bill directly affects how these entities finance capital projects through lease/purchase arrangements. This amendment restores prior rules governing the use of capital reserve funds for these specific financing agreements.