§ 3615.
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/vt/title-24/chapter-101/3615A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 3615. Taxes; bonds
For the purpose of adequately making disposal of sewage within its boundaries; successfully organizing, establishing, and operating its sewage plant, sewage disposal plant, or some form of sewage treatment plant; and making improvements as may be necessary, a municipal corporation may:
(1)purchase, take, and hold real and personal estate;
(2)borrow money;
(3)levy and collect taxes upon the ratable estate of the municipal corporation necessary for the payment of municipal corporation sewage and sewage disposal expenses and indebtedness;
(4)issue for the purposes of this section evidences of indebtedness pursuant to chapter 53, subchapter 2 of this title or its negotiable bonds pursuant to chapter 53, subchapter 1 of this title; provided, however, that bonds so issued:
(A)shall not be considered as indebtedness of the municipal corporation limited by the provisions of section 1762 of this title;
(B)may be paid in not more than 30 years from the date of issue notwithstanding the limitation of section 1759 of this title;
(C)may be authorized by a majority of all the voters present and voting on the question at a meeting of the municipal corporation held for this purpose pursuant to chapter 53, subchapter 1 of this title notwithstanding any provisions of general or special law that may require a greater vote, and may be so arranged that beginning with the first year in which principal is payable, the amount of principal and interest in any year shall be as nearly equal as is practicable according to the denomination in which the bonds or other evidences of indebtedness are issued notwithstanding other permissible payment schedules authorized by section 1759 of this title. (Amended 1959, No. 207, § 2; 1961, No. 96, eff. May 3, 1961; 1971, No. 166 (Adj. Sess.), § 2, eff. March 22, 1972; renumbered from 24 V.S.A. § 3613 by 2023, No. 143 (Adj. Sess.), § 13, eff. July 1, 2024.)