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Searching 2017-2018 Session

The Vermont Statutes Online

Title 24 : Municipal and County Government

Chapter 053 : INDEBTEDNESS

Subchapter 001 : INDEBTEDNESS GENERALLY

(Cite as: 24 V.S.A. § 1768)
  • § 1768. Form of bond and coupon

    The form of bond issued under this subchapter shall be substantially as follows:

                                                          FORM OF BOND

          The (insert name of municipal corporation) in the county of __________ __________ and of Vermont promises to pay to the bearer hereof on the ______________ day of ______________ the sum of ____________ dollars, with interest thereon at the rate of ______________ percent per annum, payable semi-annually on the presentation and surrender of the interest coupons hereto  attached. Both principal and interest of this bond are payable at the ______________ bank in the (city, town or village) of ______________ State of ______________. This bond is issued by the (insert name of municipal corporation) under and by virtue of chapter 53 of Title 24 of Vermont Statutes Annotated, and acts in amendment of and in addition thereto and the ordinance (or resolution) of (insert name of municipal corporation) duly passed on the ______________ day of __________________ 20____. This bond is one of the series of bonds of like tenor, except as to _____________________ numbered from ______________ to __________

    _________ and issued for the purpose of defraying the cost of ______________ as described in the ordinance or resolution in (insert name of municipal corporation).

         It is hereby certified and recited that all acts, conditions and things required to be done precedent to and in the issuing of these bonds have been done, have happened, and have been performed in regular and due form, as required by such law and ordinance (or resolution), and for the assessment, collection and payment hereon of a tax to pay the same, when due, the full faith and credit of (insert name of municipal corporation) are hereby irrevocably pledged.

          In testimony whereof the (name of municipal corporation) has caused this bond to be signed by its ______________ and ______________ and the seal of (insert name of municipal corporation) affixed hereto this ____________ day of __________.  

                                                                                               ______________________________

                                                                                               ______________________________

                                                                                                                                            Treasurer.

                                                               COUPON

     No. ________

          On the ________ day of ________ the  (insert name of municipal corporation) in the State of Vermont promises to pay to bearer as provided in such bond, the sum of ________ dollars at the ________ (bank) ________, being ________ months' interest due that day on bond No. ________ dated ________.

                                                                                                 _____________________________

                                                                                                                                            Treasurer.