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
013
:
BUDGET AND TAXATION
(Cite as: 24 App. V.S.A. ch. 127, § 1309)
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§ 1309. Investments
(a) With respect to money raised in a current year for that current year’s operating expenses,
the Town may only invest such funds in instruments in which the principal is not at
risk.
(b) For all other monies, investments of Town funds shall be made in:
(1) obligations of the United States, its agencies, and instrumentalities, and any repurchase
agreements whose underlying collateral consists of such obligations;
(2) certificates of deposit and other evidences of deposit at banks, savings institutions,
and trust companies approved by the Treasurer;
(3) such municipal bonds or other bonds as are a lawful investment for a bank, savings
institution, and trust companies in this State;
(4) shares of an investment company, or an investment trust, which is negotiated under
the Federal Investment Company Act of 1940, as amended, if such mutual investment
fund has been in operation for at least 10 years and has net assets of at least $10,000,000;
or may deposit the same in banks, trust companies, or national banks in this State;
and
(5) such investment instruments as may be offered by insurance companies that are licensed
by the State of Vermont.
(c) The Selectboard shall have full power to hold, purchase, sell, assign, transfer, and
dispose of any of the securities and investments in which any of the funds shall have
been invested, as well as the proceeds of such investments.