[Adopted 5-4-1970 (Ch. XXIII, Art. 2, of the 1975 Code); amended 9-10-1980; amended in its entirety at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
There shall be a Highway Account into which funds distributed by the state pursuant to C.G.S. § 13a-175a et seq. shall be deposited. The fund shall be administered by the Board of Selectmen, who may expend therefrom any amounts which in their judgment are desirable for the purposes for which such funds are distributed. The Board of Selectmen may invest the unexpended funds in the Highway Account in United States Treasury bills, bank certificates of deposit or other interest-bearing notes as approved by the Board of Finance.