The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
Subchapter
001
:
INDEBTEDNESS GENERALLY
(Cite as: 24 V.S.A. § 1786)
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§ 1786. Borrowing to pay current expenses in anticipation of taxes
(a) A municipal corporation, by its legislative branch, may borrow money by the issuance
of its notes or orders for the purpose of paying current expenses of the municipal
corporation. Such notes or orders, however, must mature within one year from date.
(b) A municipal corporation may also borrow money in anticipation of taxes in an amount
not to exceed ninety percent of the amount of taxes assessed for such year and may
issue its notes or orders therefor to mature not more than one year from the date
of the note or order.
(c) The assistant judges may borrow money in the name of the county in anticipation of
taxes.