In accordance with I.C. 8-1.5-3-13, the Clerk-Treasurer is hereby authorized to invest the surplus monies on deposit in any of the funds of the municipally-owned utilities, and to sell or liquidate the investments as monies are required or for the purpose of reinvestment. Investments shall be made, and earnings or capital gains deposited, in the same manner as prescribed for investment of other city monies, except that any interest earnings attributable to invested monies from any utility bond sinking fund shall accrue to and be deposited in the sinking fund rather than in the City General Fund. Notwithstanding any other provision, the Clerk-Treasurer for the purposes of this section may issue a check on any utility fund, including a sinking fund, to make or purchase the investment and to pay any associated transaction fees or other necessary charges deriving from the making, purchase, sale, or liquidation of the investment.
(1985 Code, § 6-3-2) (Ord. 9-1984, passed - -1984)