From and after the effective date hereof, there be, and it hereby, is created a Reserve Fund for the purpose of accumulating monies for the acquisition, construction, establishment, enlargement, improvement, maintenance, ownership, operation, and contracting for the operation of any or all of the public enterprises defined in G.S. Ch. 160A, Art. 16 to furnish public enterprise services to the town and its citizens.
(2003 Code, § 2-405)