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, § 508)
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§ 508. Refunding
The City, upon the approval of the Board of Public Works Commissioners and the City
Council, may issue refunding bonds for the purpose of paying any of its bonds issued
hereunder at maturity or upon acceleration or redemption. No affirmative vote of the
registered voters shall be necessary to authorize the issuance of refunding bonds.
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 the 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 the refunding bonds,
as may be required by the resolutions under which bonds are issued. Except as herein
specified, 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 the Burlington City charter and the Vermont statutes relating to the issue of bonds
other than refunding bonds insofar as the same may be applicable. In the event of
any conflict between the City charter and the Vermont statutes in this regard, the
City is hereby authorized to act pursuant to the more extensive grant of authority.