The Vermont Statutes Online
The Vermont Statutes Online does not include the actions of the 2024 session of the General Assembly. We expect them to be updated by November 1st.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 24 : Municipal and County Government
Chapter 053 : Indebtedness
Subchapter 001 : Indebtedness Generally
(Cite as: 24 V.S.A. § 1786)-
§ 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.
