(A) Refunds of deposits made for utility services shall be made upon the termination of the utility services only after payment of all indebtedness to the town for the utility services. Application of deposit may be made in partial or total settlement of accounts when supply is cut off for nonpayment of bill and service is not restored, or for any infraction or violation of any ordinance, rule or regulation of the town relative to utility services offered by the town.
(B) Deposits are retained for 12 months for telephone service and refunded at that time if payment has been satisfactory. Deposits for electric service are retained until termination of service and are applied to the final bill. Any overages are refunded back to the customer.
(C) Interest of 8% is paid on telephone deposits for ILEC customers only at the time of refund. There is no interest paid on electric deposits.
(1995 Code, § 42-37)