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
003
:
CITY COUNCIL WITH MAYOR PRESIDING AND CITY COUNCIL
(Cite as: 24 App. V.S.A. ch. 3, § 60)
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§ 60. Same-issuance prior to maturity or redemption; amounts; issuance, maturities, security,
rights of owners, and rights, duties, and obligations of City; general laws relating
to refunding of municipal bonds and indebtedness inapplicable
Any refunding bonds or notes may be issued at such time prior to the maturity or redemption
of the refunded bonds or notes as the City Council deems to be in the public interest.
The refunding bonds or notes may be issued in sufficient amounts to pay or provide
the principal of the bonds or notes being refunded, together with any redemption premium
thereon, any interest accrued or to accrue to the date of payment of such bonds or
notes, the expenses if issue of the refunding bonds or notes, the expenses of redeeming
the bonds or notes being refunded, and such reserves for debt service or other capital
or current expenses from the proceeds of such refunding bonds or notes as may be required
by a resolution under which bonds are issued. The issue of refunding bonds or notes,
the maturities and other details thereof, the security therefor, the rights of the
owners thereof and the rights, duties, and obligations of the City with respect thereto
shall be governed by the provisions of this City charter relating to the issue of
bonds other than refunding bonds insofar as the same may be applicable. None of the
provisions of the general laws relating to the refunding of municipal bonds and indebtedness
shall apply to such refunding bonds or notes.