Vermont § 1786 Borrowing to pay current expenses in anticipation of taxes

Vermont Statutes

§ 1786 — Borrowing to pay current expenses in anticipation of taxes

Vermont § 1786

Title 24Title 24: Municipal and County Government

Ch. 53Chapter 053: Indebtedness

This text of Vermont § 1786 (Borrowing to pay current expenses in anticipation of taxes) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 24, § 1786 (2026).

Text

(a)A municipal corporation, by its legislative branch, may borrow money by the issuance of its notes or orders for the purpose of paying current expenses of the municipal corporation. Such notes or orders, however, must mature within one year from date.

(b)A municipal corporation may also borrow money in anticipation of taxes in an amount not to exceed ninety percent of the amount of taxes assessed for such year and may issue its notes or orders therefor to mature not more than one year from the date of the note or order.

(c)The assistant judges may borrow money in the name of the county in anticipation of taxes.

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(a) A municipal corporation, by its legislative branch, may borrow money by the issuance of its notes or orders for the purpose of paying current expenses of the municipal corporation. Such notes or orders, however, must mature within one year from date.
(b) A municipal corporation may also borrow money in anticipation of taxes in an amount not to exceed ninety percent of the amount of taxes assessed for such year and may issue its notes or orders therefor to mature not more than one year from the date of the note or order.
(c) The assistant judges may borrow money in the name of the county in anticipation of taxes.