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
003
:
STATE BONDS
(Cite as: 32 V.S.A. § 955)
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§ 955. Anticipation of proceeds
Pending the issue of said bonds, the State Treasurer, with the approval of the Governor,
may use any available cash in the Treasury for the purposes for which the bonds were
authorized and restore the same from the proceeds of said bonds. Also, the State Treasurer,
with the approval of the Governor, may borrow upon notes of the State sums of money
in anticipation of the proceeds of the bonds. Such notes shall be issued on such terms
and at such times as they may determine. Each such note shall mature not more than
two years from its date, provided that notes issued for a shorter period may be refunded
from time to time by the issue of other such notes maturing within the required period
of two years. The authority hereby granted is in addition to and not in limitation
of any other authority. (Added 1959, No. 24, § 5, eff. March 10, 1959; amended 1993, No. 19, § 3, eff. May 11, 1993.)