§ 56.
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/vt/56-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 56. Termination of membership
A member municipality may terminate its membership in the District after the expiration of one year from the date it became a member by a majority of its voters at a duly warned annual or special meeting voting for such a termination. At such annual or special meeting, a majority of the municipality’s voters must also approve the terms and conditions of this chapter for withdrawal required pursuant to subdivision
(2)of this section. Such duly warned meeting must be held no less than 30 days after notice of intent to withdraw has been given to the Board of Commissioners. Said notice shall be in writing and delivered to the Board by certified mail, return receipt requested. The termination shall take effect immediately upon the following actions being carried out:
(1)A certification of the termination vote by the clerk of the terminating municipality must be delivered by certified mail, return receipt requested, to the Secretary of the District.
(2)The terminating municipality must sign a written agreement with the District to pay, as applicable:
(A)its share of any financial obligations incurred by the District up to the point of termination;
(B)its share of all existing indebtedness incurred by the District and obligations under long-term contracts, at the time its termination becomes effective, including its share of the debt or obligations incurred by the District for the remaining bonding term or contract term; and
(C)any direct, incidental, and consequential costs resulting from its withdrawal, including fixed operational costs, and costs of redesigning, relocating, or rebuilding a facility.