The Vermont Statutes Online
The Statutes below include the actions of the 2024 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.
Title 24 Appendix : Municipal Charters
Chapter 261 : Village of Orleans
(Cite as: 24 App. V.S.A. ch. 261, § 40)-
§ 40. Application of water rents
The rents and receipts of said corporation for the use of water shall first be applied to pay the annual interest as it becomes due, upon the bonds issued by said corporation to the Barton Landing Water Company for the purchase price of its property and privileges, and whenever such rents and receipts shall exceed the amount required to pay such interest, and the interest of any other water bonds of said corporation, it shall be the duty of said corporation to pay such excess, in the necessary repairs, management, and additions to said waterworks; and the balance of such excess, if any, shall be invested by the Treasurer of said corporation, with the approval of the trustees, in the name of said corporation, and the same shall be set apart as a sinking fund, and be applied solely for the payment or purchase of said water bonds or other bonds of said corporation until the full amount of said bonds shall be paid. (Added 1892, No. 114, § 40.)
