(A) There is hereby established among the various funds of the town a bond and interest fund to be utilized by the town in the manner in which all other funds of the town are used.
(B) All necessary disbursements and transfers necessary and consistent with the use of the bond and interest fund are hereby approved and authorized by the Town Council including that necessary for the debt services fund to be closed.
(C) An accurate accounting shall be maintained for credits and approved claims as debits and maintained by the Clerk-Treasurer of the town as an official record of the town. Any funds placed into this bond and interest fund, if any, shall not be commingled with other monies of the town.
(Ord. 97-04A, passed 3-17-1997)