The taxes due the town which would be paid on the utility property were it privately owned may be transferred to the town General Fund if the Town Council so elects. The Town Council makes said election as provided by law for the transfer of said funds to the General Fund of the town.
('92 Code, § 35.02) (Ord. 284, passed 9-25-80)
Statutory reference:
Similar provisions, see I.C. 8-1.5-2-25