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
008
:
SEWER, WATER, AND LIGHT SYSTEMS
(Cite as: 24 App. V.S.A. ch. 251, § 818)
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§ 818. Annual net income of water works
The annual net income from said system of water works, as defined by said deed from
the said Laura H. Jennings or her heirs, administrators, or executors shall be used
for the following purposes, viz., If the said Village installs a sewer system within
seven years from date the said annual net income and the accumulation thereof not
exceeding in the whole the sum of $30,000.00 shall be used by the said Board of Water
Commissioners to pay the cost thereof or to pay any bonds which the Village may incur
or any indebtedness which the Village may incur (including interest thereon) for the
building of a Village sewer system, not exceeding said sum of $30,000.00. This provision
shall not include the cost of future extensions of said sewer but only the initial
cost thereof said cost, bonds, or indebtedness for said sewer system shall be canceled
when paid and shall not be a claim of the Water Department against said Village or
any department thereof. After the cost of said sewer system is paid or after said
sewer bonds or indebtedness, with interest, are paid, or if said sewer system is not
installed within said seven years, said annual net income shall not be used for the
ordinary purposes of said Village or for the ordinary purposes for which money is
usually required by law to be raised by taxation, but, subject to the foregoing restriction,
shall be expended by said Board of Water Commissioners for the improvement and betterment
of the inhabitants of the Village of North Bennington in such ways as the said Board
of Water Commissioners may judge best.