Lowell Town Council closes out old Water Fund

At their meeting on Mar. 10, the Lowell Town Council finally closed out their old Water Fund, over four years after the town completed the sale of its municipal water system to Indiana American Water Company for $25 million.

Clerk-treasurer Jill Murr explained the fund has been dormant since the sale of the water system, and hasn’t had any money coming into or going out of it. Murr said she wanted to declare the funds dormant and move the remaining amount of approximately $95,000 into the General Fund of the 2025 town budget.

Resolution 2025-01, which declares the old water fund dormant, passed with a 5-0 vote.

In a related move, the town approved advertising the additional appropriations, which includes the reallocation of the funds.