§ 33.43 CASH RESERVE FUND.

   (A)   Creation. There is hereby created a Cash Reserve Fund of the town.

(1996 Code, § 44.01)

   (B)   Payments to Fund. Each month there be paid into said Cash Reserve Fund from the operating cash revenues of the electric utility the lesser of the following sums:

      (1)   Ninety percent of the operating cash revenue received by such utility each month; or

      (2)   One thousand six hundred fifty dollars.

(1996 Code, § 44.03)

   (C)   Authority. The Cash Reserve Fund shall be held, managed, and expended as provided under state law.

(1996 Code, § 44.04)

(Ord. 242, passed 1-2-1968)