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
014
:
VILLAGE INDEBTEDNESS
(Cite as: 24 App. V.S.A. ch. 247, § 1401)
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§ 1401. Incursion of debt
The Village shall not incur an indebtedness for public improvements which, with its
previously contracted indebtedness, shall, in the aggregate exceed 10 times the amount
of the last grand list of the corporation or the amounts authorized by the provisions
of 24 V.S.A. chapter 53, subchapter 1 or any amendments thereto.
Debt may be incurred and bonds issued pursuant to the provisions of the above noted
subchapter, or any amendments thereto, for any improvements, but no bonds shall be
issued for the purpose of providing funds for ordinary expenses of the Village, except
as otherwise provided by the provisions of this charter or of the laws applicable
to municipal corporations.