AN extraordinary Snowy Monaro Regional Council meeting will be held on Friday with seven motions put forward regarding the collapse of the Snowy 1 water reservoir on January 4, 2020.

Councillors Reuben Rose, Andrew Thaler and Luke Williamson have called the meeting to discuss the reservoir's failure. The trio believe there are a number of 'outstanding issues' yet to be resolved from the collapse.

The motions seek councillors' support to apply for government funding to replace the water reservoir before the 2025/26 summer period, for Council to settle any outstanding claims from damage caused by the reservoir's collapse, and for Council to undertake an independent investigation into the collapse.

When the tank collapsed, a number of homes were destroyed, dozens more damaged and close to 30 vehicles affected when 4.5 million litres of water came rushing down the Cooma North reserve.

"The trauma of this event is still evident in the community, and some residents claim to remain uncompensated for the damage to their property," Cr Rose said.

"Community concerns about the event have also not subsided.

"The motions proposed for this extraordinary general meeting are an attempt to to fulfil our responsibilities as councillors under the Local Government Act."

Councillor Rose has submitted seven motions. His second, calls for 'Council to take all steps required to bring about the fair settlement of all outstanding claims in relation to the water reservoir failure and report back to the Council monthly until complete'.

In his reply, interim CEO, Stephen Dunshea, said there is one claim still being negotiated with the matter being managed by the insurer.

The tank was filled while the Snowy Monaro local government area was in a declared state of emergency.

In December 2019, council approved a $925,000 tender to reseal and reline the tank, built in 1958.

The extraordinary meeting will take place on Friday January 24 at 10am in Council's Cooma office chambers. The meeting will also be live-streamed.