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
004
:
FISCAL AFFAIRS
(Cite as: 24 App. V.S.A. ch. 414, § 408)
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§ 408. Indebtedness; short-term borrowing
(a) The Board of Supervisors may borrow money through the issuance of notes of the District
for the purpose of paying current expenses of the District. However, the notes must
mature within the fiscal year in which they were issued.
(b) The Board of Supervisors may also borrow money in anticipation of taxes in an amount
not to exceed 90 percent of the amount of taxes assessed for each year and may issue
notes of the District that must mature within the fiscal year in which they were issued.
(c) The Board of Supervisors may also borrow money in anticipation of any revenues other
than taxes through the issuance of notes of the District. However, the notes must
mature within the fiscal year in which they were issued. (Added 2019, No. M-2, § 2, eff. April 19, 2019.)