Sec. 2. (a) A municipality may establish a cumulative street fund to provide money for:

(1) the acquisition of rights-of-way for public ways or sidewalks; or

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(2) the construction or reconstruction of public ways or sidewalks.

     (b) A cumulative street fund may be established by a municipal legislative body through the adoption of a resolution.

As added by Acts 1981, P.L.307, SEC.2.