Any meter deposits which remain unclaimed by the depositor for a period of seven years from disconnection from that utility’s service and of which the owner cannot be reasonably located or found, shall be presumed abandoned by said depositor or owner and shall become property of the town. The Clerk-Treasurer is hereby authorized and directed to transfer any of the aforesaid abandoned meter deposits from the utility’s Meter Deposit Fund to said respective utility’s Operating Fund.
(Ord. 1994-9, passed 7-19-1994)