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A. Generally: The revenues and other resources of the town shall be divided into funds as provided by law and accounted for as provided thereby.
B. Sinking Fund:
1. It is the duty of the officers of the town to handle, deposit, invest, and use the money in the sinking fund of the town in the manner provided by law.
2. The town treasurer shall deposit daily all uninvested sinking fund money in his hands in banks as provided by law. (1984 Code § 7-111)