(A) A Depreciation Fund for the Electric Light and Power Department of the town is hereby established, and shall be carried on the books of the utility as provided and required by I.C. 8-1.5-4-9, and to this Fund shall accrue at least 5% of the operating cash revenues of the utility each month.
(B) A Cash Reserve Fund for the Electric Light and Power Department of the town is hereby established, and shall be carried on the books of the utility as provided and required by I.C. 8-1.5-4-9.
(C) Monthly contributions or transfers to the Cash Reserve Fund shall be made of surplus earnings of the utility, as determined by the Town Council.
(Ord. 210, passed 7-12-1949)