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
009
:
BONDED INDEBTEDNESS
(Cite as: 24 App. V.S.A. ch. 251, § 902)
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§ 902. Maximum bonded indebtedness
(a) The total amount of the bonded or other outstanding indebtedness of said Village at
any one time, however, shall not exceed 10 percent of the assessed valuation of the
property therein; and said Village may refund its outstanding legal indebtedness by
issuing its notes or bonds therefor subject to the provision of this section.
(b) This section shall not be construed to prevent the Village issuing its orders to borrow
money to provide for current necessary expenses in any year; said orders, however,
to be retired from the avails of taxes appropriated for the purpose by the Village
that year.