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
015
:
BUDGET AND TAXATION AND INDEBTEDNESS
(Cite as: 24 App. V.S.A. ch. 143, § 1505)
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§ 1505. Current bonded indebtedness
Outstanding bonds previously issued by the Village of Richmond shall be obligations
of the Town of Richmond on and after the effective date of this charter; provided,
however, that until fully paid, said bonds and notes shall constitute a general obligation
only with respect to that part of the Town formerly comprising the Village of Richmond
and any part of the Town of Richmond presently outside the limits of the Village of
Richmond and now receiving Village water and sewer services. Said bonds and notes
shall not constitute a debt or obligation of the Town of Richmond, except as specifically
provided in this section, and shall be paid only by rates, charges, and assessments
levied for water and sewer service within the former Village, and shall be secured
as general obligations only by the full faith and credit of the Town as it applies
within the former Village. Nothing herein shall be construed as abridging the power
of the Town or the Town School District to authorize and issue bonds as provided by
the general law of this State.