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Code · Vermont · Vermont Statutes

§ 225.

362 words·~2 min read·/vt/225

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§ 225. Powers of Board
(a)The City Council shall, in addition to the other powers granted to it under this charter, have power to make all necessary repairs, extensions, or improvements to said works, and to provide new supply pipes within the City.
(b)The City Council may pledge the credit of the City and incur obligations to be paid in installments over a period of years and only from revenues of the Water Division of the Public Works Department to pay the cost of such improvements and additions to the property and equipment of the Water Division of the Public Works Department as, in the judgment of the City Council, the interests of the City require to be made and, for the purpose of paying such costs, may pledge, assign, or otherwise hypothecate such portion of the net earnings or profits of the Water Division of the Public Works Department from year to year as may be required to pay such installments, and the City Council shall authorize and direct the execution and issuance of such contracts and evidences of indebtedness as may be necessary to so pledge the credit of the City for the payment of such obligations in such installments from the net earnings of the Water Division of the Public Works Department, such contracts and evidences of indebtedness to be in such form and to contain such provisions and to be executed by such officers as the City Council may by resolution provide; provided, however, that all such obligations and all installments thereof shall be payable only from the net earnings or profits of the Water Division of the Public Works Department and shall not constitute an indebtedness of the City or impose an obligation or liability upon the City to pay the same from any funds of the City other than such net earnings or profits, and in case revenue bonds of the City are issued for such obligations, the same shall not be subject to the bonding limit provided by law.
(c)The City Council shall also have all the powers and duties of sewage disposal commissioners under the provisions of 24 V.S.A. chapter 101.
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