The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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 414 : Rutland County Solid Waste District
Subchapter 004 : Fiscal Affairs
(Cite as: 24 App. V.S.A. ch. 414, § 410)-
§ 410. Sinking fund
(a) The Board of Supervisors, with the approval of a majority of the voters present and voting at a special District meeting called and warned for that purpose, may establish and provide for a sinking fund that shall serve and be used exclusively as a debt service reserve fund for the retirement of bond issue or other debt. When so established, it shall be kept intact and separate from other monies at the disposal of the District, shall be accounted for as a pledged asset for the purpose of retiring the obligations, and shall not be appropriated or used for the current expenses of the District.
(b) The cost of payments to a sinking fund established pursuant to subsection (a) of this section shall be included in the annual budget of the District and shall be allocated among the member municipalities as provided in section 404 of this charter, unless otherwise provided by applicable law and in the vote authorizing the same. (Added 2019, No. M-2, § 2, eff. April 19, 2019.)
