§ 33.15 DEFINITIONS.

   For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.

   CLERK-TREASURER. The Clerk-Treasurer of the Town of Bargersville.

   REPURCHASE AGREEMENT. An agreement:

      (1)   Involving the purchase and guaranteed resale of securities between two parties; and

      (2)   That may be entered into for a fixed term or arranged on an open or a continuing basis as a continuing contract that:

         (a)   Operates like a series of overnight repurchase agreements;

         (b)   Is renewed each day with the repurchase rate and the amount of funds invested determined daily; and

         (c)   For purposes of this subchapter, is considered to have a stated final maturity of one day.

   TOWN. The Town of Bargersville, and all utilities operated by it.

   TOWN COUNCIL. The Town Council of Bargersville.

(Ord. 2009-4, passed 4-14-2009)