§ 101.
171 words·~1 min read·
/vt/101-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 101. Annual assessment to pay bond interest authorized
The City Council shall at the same meeting and immediately after it gives final approval to the annual City budget, assess upon the property grand list of said City for the fiscal year a tax that will be sufficient to pay the interest due and to become due in such fiscal year on all outstanding bonds of the City so far as such interest payments are not otherwise provided for, and also sufficient to pay the principal of all such bonds matured and maturing during such fiscal year, so far as such principal payments are not otherwise provided for, including provision therefor by refunding, and shall appropriate in the annual budget for the fiscal year in which such tax is assessed for the payment of such bond interest and principal such sum as may be required for that purpose.
Such tax shall not be included within the limitations of amount of tax for City purposes prescribed by section 99 of this charter.