§ 903.
333 words·~2 min read·
/vt/903-14A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 903. Authority to issue bonds for electric light plant
The Village shall be authorized to issue bonds, not exceeding seven thousand dollars, on such terms as said Village may prescribe, for the purpose of constructing and operating the electric light plant provided for in this charter, and in case the Village shall neglect to make seasonable provisions, for the payment of the principal or interest, of the bonded indebtedness as the same shall from time to time mature, the Treasurer of the Village shall be clothed with the power to make out and deliver to the Collector of the Village, a tax bill on the grand list of the Village, and the Treasurer shall forthwith issue to the Collector a warrant, substantially in form as now provided to be issued for the collection of town or other taxes by town treasurers, directing the collection and payment of the tax to the Treasurer, within 60 days from the time of delivery, in amount to seasonably and promptly pay the interest or principal, or both, then past due and unpaid, with all proper charges for assessing and collecting the same; and the tax shall be collected and paid into the treasury promptly according to the warrant, and the money so collected and paid to the Treasurer shall be especially held, appropriated, and used for the payment of the interest or principal, or both, and for no other purpose save the incidental expense of assessing and collecting the tax.
And it is hereby made the duty of the Treasurer of the Village to provide for and promptly pay the interest on and the principal of the bonded indebtedness, as the same shall become due and payable from time to time, without any vote of the Village, and the tax bill shall have all the force and authority in every respect of a tax bill for a tax voted at a regular meeting of the Village. (Amended 2023, No. 6, § 309, eff. July 1, 2023.)