The Clerk-Treasurer of the town is hereby authorized, from time to time, as surplus monies are available in the various funds of the town, to invest the surplus in United States Treasury certificates, treasury bills or certificates of deposit, with maturities that will make the monies available when needed in the various funds. The Clerk-Treasurer is authorized to continue to make investments and reinvestments of surplus funds until the time as the Town Council shall deem otherwise.
(1998 Code, § 4-3)