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
006
:
SPECIAL FUNDS
(Cite as: 24 V.S.A. § 4680)
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§ 4680. Application of funds; excess
Money or investments in any fund or account of the Bank established or held for any
bonds, notes, indebtedness, or liability to be paid, funded, or refunded by issuance
of bonds or notes shall, unless the resolution authorizing the bonds or notes provides
otherwise, be applied to the payment or retirement of the bonds, notes, indebtedness,
or liability, and to no other purpose. If in any fund or account there are any monies
in excess of the amount required for payment, funding, or refunding, the monies may
be removed from that fund or account but only to the extent that the monies or investments
thereafter remaining in the fund or account are not less than the outstanding bonds,
notes, indebtedness, or liability of the Bank to be paid, funded, or refunded and
for which that fund or account was established or held. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970.)