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
009
:
RELATED LAWS
(Cite as: 24 App. V.S.A. ch. 3, § 436)
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§ 436. Same—refunding
The City may issue refunding bonds for the purpose of paying any of its bonds issued
hereunder at maturity or upon acceleration or redemption. The refunding bonds may
be issued at such time prior to the maturity or redemption of the refunded bonds as
the City deems to be in the public interest. The refunding bonds may be issued in
sufficient amounts to pay or provide the principal of the bonds being refunded, together
with any redemption premium thereon, any interest accrued or to accrue to the date
of payment of such bonds, the expenses of issue of the refunding bonds, the expenses
of redeeming the bonds being refunded, and such reserves for debt service or other
capital or current expenses from the proceeds of such refunding bonds as may be required
by a resolution under which bonds are issued. The issue of refunding bonds, the maturities
and other details thereof, the security therefor, the rights of the holders thereof,
and the rights, duties, and obligations of the City with respect thereto shall be
governed by the provisions of this article relating to the issue of bonds other than
refunding bonds insofar as the same may be applicable.