(A) From and after the date of this section, any and all funds previously held as utility deposits by the town to secure utility service, together with any interest on said deposits, less any lawful deductions that have remained unclaimed by the person appearing on the records of the utility of the town for more than one year after termination of the service for which the deposit was made, plus any sum which the utility has been ordered to refund for utility services rendered in the town, together with any interest thereon, less lawful deductions that have remained unclaimed by the person appearing on the records of the utility of the town for more than one year after the date that it became payable in accordance with the final determination or order providing the refund, shall be presumed “abandoned”.
(B) The Clerk-Treasurer is hereby directed to transfer all deposits and funds presumed to be abandoned from the Utility Deposit Account to the Utility Operating Account forthwith.
(Prior Code, § 53.01) (Res. 1996-4, passed 6-25-1996)