In accordance with I.C. 8-1.5-3-13, the Clerk-Treasurer is hereby authorized to invest the surplus moneys on deposit in any of the funds of the municipally-owned utilities, and to sell or liquidate such investments as moneys are required or for the purpose of reinvestments. Investments shall be made, and earnings or capital gains deposited, in the same manner as prescribed for investment of other town moneys; except that, any interest earnings attributable to invested moneys from the Utility Bond Sinking Fund shall accrue to and be deposited in such sinking fund rather than in the town’s General Fund. Notwithstanding any other provisions, the Clerk-Treasurer, for the purpose of this section, may issue a check on any utility fund, including a sinking fund, to make or purchase such investment and to pay any associated transaction fees or other necessary charges deriving from the making, purchase, sale or liquidation of the investment.
(Prior Code, § 2-3-7) (Ord. 85-1C, passed - -1985)