(A) Creation and purpose of a Debt Service Fund. There is hereby established a Debt Service Fund to receive and disburse funds for repayment of borrowed funds.
(B) Appropriations. The Town Council may authorize the expenditure of funds from the Debt Service Fund by appropriations made in the same manner as other funds that are appropriated upon making a finding that the proposed use of the funds is consistent with the intent of the Fund.
(Ord. 602, passed 1-9-2008)