The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 16 : Education
Chapter 009 : School Districts
Subchapter 004 : Other Provisions
(Cite as: 16 V.S.A. § 566)-
§ 566. Authority to borrow
Notwithstanding the provisions of subdivision 562(9) of this title, if a budget for the support of schools for the ensuing year has not been approved on or before June 30 of any year, the school board may borrow funds necessary to enable it to operate the schools on a budget of up to 87 percent of the most recently approved school budget. If the school board borrows money under this section, it shall determine how all funds shall be expended. (Added 1995, No. 32, § 1; amended 2001, No. 8, § 7.)
