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(A) A Cash Reserve Fund for the municipal water utility is established, pursuant to I.C. 8-1.5-3-11. The Clerk-Treasurer is authorized and directed to transfer surplus earnings of the water utility to the Cash Reserve Fund as provided in I.C. 8-1.5-3-11.
(B) The municipal water utility Cash Reserve Fund may be used to make loans to any other city-owned utility, for a period not to exceed five years, at an interest rate established by resolution of the City Board of Public Works and Safety, and the repayment of any such loans and interest shall be returned to the Cash Reserve Fund.
(1980 Code, § 30.04) (Ord. 1009, passed 9-29-1987)