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, § 1403)
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§ 1403. Level of debt
In determining the amount of municipal indebtedness permitted, obligations created
for current expenses, for a water supply or for electric lights, and temporary loans
created in anticipation of the collection of taxes and necessary for meeting current
expenses shall not be taken into account. Sinking funds and other monies set aside
for the sole purpose of paying outstanding bonds shall be deducted.