The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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 008 : Borrowing Authority(Cite as: 24 App. V.S.A. ch. 215, § 801)
§ 801. Borrowing authority
The Village at an annual or at any special meeting called for that purpose is authorized and empowered to vote to borrow money for any of the purposes mentioned in this charter, and to issue its notes and bonds, and the notes or bonds shall be signed by the Trustees and countersigned by the Treasurer of the Village, and if interest coupons are attached they shall be signed by the Treasurer; and the bonds or notes shall contain a statement that they were issued for the purposes mentioned and in conformity with the provisions of this charter, and the statement shall be conclusive evidence of the same, and of the liability of the Village to pay the notes or bonds in an action by a person who in good faith holds the notes or bonds. The Village Treasurer shall keep a record of every note or bond issued under the provisions of this charter, stating the number and denomination of each note or bond, when and where payable, to whom issued, and the rate of interest; and also shall keep a record of payments, interest, and principal, and if any coupons are taken up shall deface the same. (Amended 2023, No. 6, § 306, eff. July 1, 2023.)