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
006
:
MISCELLANEOUS
(Cite as: 24 App. V.S.A. ch. 409, § 603)
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§ 603. Dissolution of the District
(a) Upon the affirmative vote of supervisors representing at least two-thirds of all votes
entitled to be cast on behalf of all members and comprising at least two-thirds of
the supervisors present, the Board may prepare a plan of dissolution for submission
to the voters of the District at a special meeting of the District duly warned for
such purposes. If the voters of the District present and voting at such special meeting
of the District vote to dissolve the District, the District shall cease to conduct
its affairs except insofar as may be necessary to complete the plan of dissolution
and conclude its affairs. The Board of Supervisors shall cause a notice of the plan
of dissolution to be mailed to each known creditor of the District and to the Secretary
of State.
(b) The plan of dissolution shall, at a minimum:
(1) identify and value all assets of the District;
(2) identify all liabilities of the District, including contract obligations;
(3) determine how the assets of the District shall be liquidated and how the liabilities
and obligations of the District shall be paid, to include assessments against municipalities
of the District;
(4) specify that any assets remaining after payment of all liabilities shall be apportioned
and distributed among the municipalities according to the same basic formula used
in apportioning the costs of the District to the municipalities.
(c) When the plan of dissolution has been fully implemented, the Board shall certify that
fact to the members whereupon this chapter and the District shall be terminated.