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
006
:
MISCELLANEOUS
(Cite as: 24 App. V.S.A. ch. 403, § 56)
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§ 56. Dissolution of District
(a) Procedure. If the Board of Supervisors by resolution approved by two-thirds of all the votes
entitled to be cast determines that it is in the best interests of the public, the
member municipalities, and the District that the District be dissolved, and if the
District then has no outstanding debt or obligations under long-term contracts, or
will have no such debt or obligation upon completion of the plan of dissolution, it
shall prepare a plan of dissolution and thereafter adopt a resolution directing the
question of such dissolution and the plan of dissolution be submitted to the voters
of the District at a special meeting of the District duly warned for such purpose.
If two-thirds of the voters of the District present and voting at such special meeting
of the District duly warned for such purpose shall vote to dissolve the District and
approve the plan of dissolution, the District shall cease to conduct its affairs except
insofar as may be necessary for the winding up thereof. The Board of Supervisors
shall immediately cause a notice of the proposed dissolution to be mailed to each
known creditor of the District and to the Secretary of State, and shall proceed to
collect the assets of the District and apply and distribute them in accordance with
the plan of dissolution.
(b) Plan of dissolution. The plan of dissolution shall:
(1) identify and value all unencumbered assets of the District;
(2) identify and value all encumbered assets of the District;
(3) identify all creditors of the District and the nature or amount of all liabilities
and obligations of the District;
(4) identify all obligations under long-term contracts;
(5) specify the means by which assets of the District shall be liquidated and all liabilities
and obligations of the District shall be paid and discharged, or adequate provision
shall be made for the satisfaction thereof;
(6) specify the amount of monies due from each member municipality, if necessary, to extinguish
the liabilities of the District;
(7) specify the nature and amount of any liabilities or obligations to be assumed and
paid by the member municipalities;
(8) specify the means by which any assets remaining after discharge of all liabilities
shall be liquidated if necessary;
(9) specify that any assets remaining after payment of all liabilities shall be apportioned
and distributed among the member municipalities according to the same basic formula
used in apportioning the annual assessments of the District.
(c) Termination. When the plan of dissolution has been implemented, the Board of Supervisors shall
adopt a resolution certifying that fact to the member municipalities whereupon this
chapter shall be repealed and the District created shall be terminated.