(A) Created; purpose. For the purpose of creating or continuing a sinking fund for the gradual extinguishment of the bonded indebtedness of the city, there is hereby created or continued the establishment of a Sinking Fund as provided by I.C. 36-9-16.
(Prior Code, § 43.030)
(B) Commissioners.
(1) The Sinking Fund shall be under the control of three Commissioners to be known as the Board of Sinking Fund Commissioners, of whom the City Controller shall be one. Two others shall be appointed by the Mayor for the terms of and in the manner provided by law.
(2) The Commissioners shall serve without compensation, pay, or other remuneration for their services and the Controller shall act as Secretary of the Commission without additional fee or salary.
(Prior Code, § 43.031)