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
:
ELECTRIC POWER SYSTEM
(Cite as: 24 App. V.S.A. ch. 235, § 98)
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§ 98. Electric Department finances
It shall be the duty of the Treasurer of said Village to keep separate accounts of
all monies received from the Electric Light Department and the rates and receipts
of said Village for the use of electric light power shall be applied first to pay
the interest as it becomes due upon the bonded or other indebtedness of said Village
in connection with said electric light plant, and the excess, if any, shall be expended
in the necessary repairs, management, and additions to said electric light plant.
And, if there remains unexpended a balance of the said electric light fund, such balance
shall be applied to pay the principal of the debt incurred on account of the said
electric light plant if due and payable, or shall be set apart as a sinking fund,
and shall be invested by the Treasurer of said Village with the approval of the electric
light commissioners to be applied in payment of such electric light plant indebtedness
when the same shall become due.