Council hereby designates and declares that, to the fullest extent allowed by law, all interest which has been earned from the investment of the various funds established and held by the Village of New London shall be deposited into the General Fund, and then the monthly balances of such earned interest shall be accrued, credited and transferred back to the same original funds from which the interest has been derived on a monthly basis; and that Council hereby authorizes and directs the Clerk-Treasurer to do such things, and execute such documents, as may be necessary to accomplish the same, without the necessity of further authorization from
Council. (Ord. 03-23. Passed 11-25-03.)