§ 154.
229 words·~1 min read·
/vt/154A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 154. Composition
The Board of Finance shall be constituted as follows: The Mayor shall, ex officio, be Chair of said Board and together with the President of the City Council, and three additional members of the City Council who shall be elected at the first meeting of the City Council in April of each year and who shall serve a term of one year from the date of their election shall constitute said Board of Finance. In addition, the Chief Administrative Officer shall serve as a nonvoting member of said Board.
All of the additional three members elected from the City Council may not be members of the same political party. The members of said Board shall be trustees of public monies for the City and shall have the powers and perform all the duties of similar officers in towns of this State; provided, however, that they shall make no investment or reinvestment of any of the cemetery endowment funds of the City without first obtaining the written approval thereof by a majority of the Board of Cemetery Commissioners.
The Clerk/Treasurer’s Office shall provide staff assistance for said Board. In the absence or disability of the Mayor, the Chief Administrative Officer shall sit as a voting member. (Amended 1997, No. M-18 (Adj. Sess.), § 26, eff. April 23, 1998; 2011, No. M-4, § 2, eff. April 4, 2011.)