Vermont § 5703 Limitations; taxes; indebtedness; eminent domain

Vermont Statutes

§ 5703 — Limitations; taxes; indebtedness; eminent domain

Vermont·Title 24 Title 24: Municipal and County Government·Ch. 138 Chapter 138: Rural Economic Development Infrastructure Districts

Notwithstanding any grant of authority in this chapter to the contrary:

(1)A district shall not accept funds generated by the taxing or assessment power of any municipality in which it is located.

(2)A district shall not have the power to levy, assess, apportion, or collect any tax upon property within the district, nor upon any of its underlying municipalities, without specific authorization of the General Assembly.

(3)All obligations of the district, including financing leases, shall be secured by and payable only out of the assets of or revenues or monies in the district, including revenue generated by an enterprise owned or operated by the district.

(4)A district shall not have powers of eminent domain.

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Notwithstanding any grant of authority in this chapter to the contrary:
(1) A district shall not accept funds generated by the taxing or assessment power of any municipality in which it is located.
(2) A district shall not have the power to levy, assess, apportion, or collect any tax upon property within the district, nor upon any of its underlying municipalities, without specific authorization of the General Assembly.
(3) All obligations of the district, including financing leases, shall be secured by and payable only out of the assets of or revenues or monies in the district, including revenue generated by an enterprise owned or operated by the district.
(4) A district shall not have powers of eminent domain.

Vermont § 5703 (Limitations; taxes; indebtedness; eminent domain) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.