The Vermont Statutes Online
The statutes were updated in November, 2018, and contain all actions of the
2018 legislative session.
Subchapter 011 : INDEBTEDNESS; SINKING FUND; BONDS AND NOTES FOR IMPROVEMENTS(Cite as: 24 App. V.S.A. ch. 5, § 1117)
§ 5-1117. Use of unexpended bond proceeds
(a) The proceeds of all bonds or notes shall be used for the purpose for which they were authorized. However, any unexpended balance remaining after carrying out the purpose for which they were authorized may, by vote of any annual or special City meeting duly warned and held for that purpose, be authorized for any purpose for which bonds may be issued, in accordance with general law, or transferred to a sinking fund established by the Council.
(b) [Repealed.] (Amended 2013, No. M-19 (Adj. Sess.), § 2, eff. May 20, 2014; 2017, No. M-18 (Adj. Sess.), § 2, eff. May 21, 2018.)