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
008
:
GENERAL PROVISIONS
(Cite as: 24 App. V.S.A. ch. 3, § 306)
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§ 306. Reserve Fund of Light Department not to be increased without vote
Notwithstanding the provisions of section 65 of this charter, the Special Reserve
Fund of the Light Department therein provided for shall not be increased in any one
year by more than 10 percent of the net earnings of said Department for the previous
year, unless a majority of the legal voters of the City present and voting thereon
at the annual City meeting to be held on the first Tuesday in March, 1950, shall vote
favorably upon the following question, to be voted upon by ballot: “Shall the City
Council, with the approval of the Board of Light Commissioners, be authorized to increase
the Reserve Fund of the Light Department by such part of the Department earnings as
it may deem advisable?”