Pursuant to IC 8-1.5-3-11(b), there is hereby established for the town's waterworks as Water Utility Cash Reserve Fund, into which there shall be deposited any surplus earnings, as defined by IC 8-1.5-3-11(c), of the waterworks. Subject to the provisions of IC 8-1.5-3-11(a), the money may be transferred to the town's General Fund at times and for purposes described by IC 8-1.5-3-11(d) or 11(e) or may be used to make loans to any other municipal utility in accordance with IC 8-1.5-3-11(f).
('85 Code, § 4-2-25) (Ord. 1985-C16, passed 9-16-85)