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
004
:
FISCAL AFFAIRS
(Cite as: 24 App. V.S.A. ch. 407, § 405)
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§ 405. Indebtedness
The Board of Supervisors may borrow money through the issuance of notes of the District
for the purpose of paying current expenses of the District. Such notes must mature
within one year. The Board of Supervisors may also borrow money in anticipation of
grants-in-aid from any source and any revenues other than assessment through the issuance
of notes of the District. Such notes must mature within one year, but may be renewed
as provided by general law. The Board of Supervisors may also borrow money in anticipation
of assessments to each member municipality in an amount not to exceed 90 percent of
the amount assessed for each year, and may issue notes of the District that must mature
within one year. The Board of Supervisors may also borrow money in anticipation of
bond proceeds that have been authorized as provided herein. Said notes shall be issued
as provided in 24 V.S.A. chapter 53.