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
011
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INDEBTEDNESS; SINKING FUND; BONDS AND NOTES FOR IMPROVEMENTS
(Cite as: 24 App. V.S.A. ch. 5, § 1117)
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§ 1117. Use of unexpended bond proceeds
(a) The proceeds of all bonds or notes shall be used for the purpose for which they were
authorized. However, any unexpended balance remaining after carrying out the purpose
for which they were authorized may, by vote of any annual or special City meeting
duly warned and held for that purpose, be authorized for any purpose for which bonds
may be issued, in accordance with general law, or transferred to a sinking fund established
by the Council.
(b) [Repealed.] (Amended 2013, No. M-19 (Adj. Sess.), § 2, eff. May 20, 2014; 2017, No. M-18 (Adj. Sess.), § 2, eff. May 21, 2018.)