reglab/housing_qa huggingface dataset:
24 V.S.A. § 1767
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1767. Computation of amount

§ 1767. Computation of amount|(a)(1) In determining the amount of municipal indebtedness permitted by this subchapter, obligations created for current expenses, for a water supply or for electric lights, and temporary loans created in anticipation of the collection of taxes and necessary for meeting current expenses shall not be taken into account.  (2) Sinking funds and other monies set aside for the sole purpose of paying outstanding bonds shall be deducted.   (b) The provisions of this section and of section 1762 of this title shall not apply when the charter of a municipal corporation or special act otherwise limits its indebtedness.
24 V.S.A. § 1771
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1771. Refunding bonds; authorization

§ 1771. Refunding bonds; authorization|A municipal corporation that has outstanding and unpaid orders, notes, bonds, or coupons, lawfully issued, may issue other negotiable notes or bonds to pay or retire the same. Such bonds shall be signed, sold, made payable, and mature in the same manner as an original issue of bonds of a municipal corporation is signed, sold, made payable, and mature, as provided in this subchapter.
24 V.S.A. § 1772
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1772. Refunding bonds; procedure and limitations

§ 1772. Refunding bonds; procedure and limitations|(a) Such municipal corporation by its legislative branch, by resolution or ordinance, shall determine the necessity for issuing refunding bonds, the amount of legal outstanding indebtedness to be refunded, what amount of new bonds shall be issued, at what time and place they shall be payable, the rate of interest thereon, or that the rate of interest shown by the accepted bid shall determine the rate of interest thereon, and when payable, the form of bond, which shall be substantially in the form provided in this subchapter, and whether the bonds shall be registered or have interest coupons attached. Such new bonds shall not be used or sold except to provide means for paying or retiring such outstanding indebtedness in accordance with the provisions of subsection (b) of this section.(b) A municipal corporation by its legislative branch, by resolution or ordinance, may issue refunding bonds for the purpose of paying any of its bonds or notes at maturity or upon acceleration or redemption. The refunding bonds may be issued at such time prior to the maturity or redemption of the refunded bonds as the municipality deems to be in the public interest. The refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium thereon, any interest accrued or to accrue to the date of payment of the bonds, the expenses of issue of the refunding bonds, the expenses of redeeming the bonds being refunded, and such reserves for debt service or other capital or current expenses from the proceeds of the refunding bonds, as may be required by the resolutions under which bonds are issued. (Amended 1983, No. 24, § 2, eff. April 6, 1983; 2017, No. 74, § 89.)
24 V.S.A. § 1774
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1774. Record by treasurer

§ 1774. Record by treasurer|The treasurer of each governmental unit as defined in section 4551(5) of this title shall keep a record of every obligation assumed by that unit. (Amended 1977, No. 155 (Adj. Sess.), § 2, eff. March 29, 1978; 1999, No. 71 (Adj. Sess.), § 2.)
24 V.S.A. § 1775
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1775. Cancellation and record of old bonds

§ 1775. Cancellation and record of old bonds|When old notes, orders, or bonds are taken up, as provided in this subchapter, the treasurer of the municipal corporation shall keep a record of the same, and such old notes, orders, or bonds shall be cancelled.
24 V.S.A. § 1776
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1776. Record

§ 1776. Record|All ordinances or resolutions required by this subchapter to be enacted by the legislative branch of a municipal corporation shall be duly recorded in the office of the clerk of such municipal corporation.
24 V.S.A. § 1777
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1777. Regulations

§ 1777. Regulations|When a municipal corporation has established or provided a sinking fund for the retirement of a bond issue or other debt, the fund so established or provided shall be kept intact and separate from other monies at the disposal of such corporation, shall be accounted for as a pledged asset for the purpose of retiring such obligations, and shall not be appropriated or used for the current expenses of such corporation.
24 V.S.A. § 1778
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1778. Registered obligations; authority to issue

§ 1778. Registered obligations; authority to issue|A municipal corporation may issue registered bonds. If an original issue of bonds by such municipal corporation is registered, they shall be registered as hereinafter provided.
24 V.S.A. § 1779
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1779. Registration on request

§ 1779. Registration on request|A municipal corporation, at the written request, duly acknowledged, of the owner or holder of one or more bonds, promissory notes, or certificates of indebtedness issued by it and payable to bearer or to a person or corporation named, or bearer, may change such bonds, notes, or certificates into registered obligations, payable only to the person or corporation whose name is properly indorsed thereon, as hereinafter provided.
24 V.S.A. § 1780
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1780. Certificate of registration indorsed; when

§ 1780. Certificate of registration indorsed; when|When it shall be determined by a municipal corporation to issue registered bonds, the legislative branch of the municipal corporation shall direct the treasurer of such municipal corporation to indorse upon the back of each of such bonds over his or her official signature a certificate of registration in substantially the form hereinafter provided, inserting in the appropriate places the date of such registration, the name and address of the registered holder, and his or her own signature as transfer agent. Thereafter such bond shall be transferable only upon the books of such municipality upon presentation to the treasurer thereof with a written assignment duly acknowledged or proved.
24 V.S.A. § 1781
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1781. Change of coupon bonds to registered bonds

§ 1781. Change of coupon bonds to registered bonds|In case a municipal corporation shall have issued coupon bonds and the owner or holder thereof has requested that such bonds be changed to registered bonds as herein provided, then upon written request of such change, duly acknowledged, the treasurer of such a municipal corporation, if directed by the city council of the city, selectboard of the town, school directors of the town school district, or other corresponding officers of the municipal corporation of which he or she is such treasurer, as the case may be, shall cut off and destroy the coupons on the bonds presented for registration and indorse upon the back of each of such bonds over his or her official signature a certificate of registration in substantially the form prescribed by section 1782 of this title, inserting in the appropriate places the date of such registration, the name and address of the registered holder, and his or her own signature as transfer agent. Thereafter such bond shall be transferable only upon the books of such municipality upon presentation to the treasurer thereof with a written assignment duly acknowledged or proved.
24 V.S.A. § 1782
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1782. Registered bonds; form of certificate

§ 1782. Registered bonds; form of certificate|In all cases where bonds are registered the following shall be the form of CERTIFICATE OF REGISTRATION     It is hereby certified that upon the written request of the holder of the within bond, the coupons attached thereto, being __________________ in number, of _______________________ each have been this day cut off and destroyed and that the within bond is hereby converted into a registered bond with the interest thereon payable _____________ annually, and that such interest, as well as the principal, is payable to the registered holder thereof, his or her legal representatives, successors, or assigns at the time and place expressed on the  face of such bond.     The within bond when registered is transferable only upon the books of the treasurer of ______________________ upon presentation to the treasurer with a written assignment duly acknowledged or proved. Date ____________ 20 ______.         Treasurer of _______________________ _________________________________          Date of registration.      _____________________________________________        Name and address of registered holder. Signature of treasurer who acts as transfer agent.  (Amended 2017, No. 74, § 90.)
24 V.S.A. § 1783
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1783. Registered bonds; indorsement conclusive evidence of authority

§ 1783. Registered bonds; indorsement conclusive evidence of authority|The indorsement of such certificate of registration upon any bond, note, or certificate by such treasurer shall be conclusive evidence that such treasurer was directed by the proper officers of the municipal corporation of which he or she was treasurer to convert such bond into a registered obligation. (Amended 2017, No. 74, § 91.)
24 V.S.A. § 1784
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1784. Registered bonds; treasurer to keep record

§ 1784. Registered bonds; treasurer to keep record|The treasurer of every such municipal corporation shall keep a register showing the number, date, amount, rate of interest, time when payable, and the name of the registered holder of the bonds, notes, and certificates originally registered or changed to registered obligations. (Amended 2017, No. 74, § 92.)
24 V.S.A. § 1785
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1785. Registered bonds; conversion not to affect liability

§ 1785. Registered bonds; conversion not to affect liability|Such conversion shall in no respect or degree weaken or impair the obligation of such municipal corporation to pay such bond, note, or certificate so converted. (Amended 2017, No. 74, § 93.)
24 V.S.A. § 1786
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1786. Borrowing to pay current expenses in anticipation of taxes

§ 1786. Borrowing to pay current expenses in anticipation of taxes|(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.
24 V.S.A. § 1786a
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1786a. Borrowing for public improvements and capital assets

§ 1786a. Borrowing for public improvements and capital assets|(a) The voters of a municipality may authorize specific public improvements and the acquisition of capital assets and finance the same, temporarily or permanently, through debt instruments other than bonds for a term not to exceed the reasonably anticipated useful life of the improvements or assets as provided in this section.(b) If the improvements or assets are to be financed for a term of five years or less, they shall be approved by the voters at an annual or special meeting duly warned for the purpose in accordance with the provisions of 17 V.S.A. chapter 55. However, the requirement of this subsection shall not apply to purchases made by selectboards under the provisions of 19 V.S.A. § 304(a)(3).(c) If the improvements or assets are to be financed for a term of more than five years, the procedural provisions of sections 1755, 1756, and 1757 of this title shall apply. A vote on the question shall be held at a duly warned annual or special meeting and shall be by Australian ballot. The ballot shall be in substantially the following form:"Shall the voters authorize (describe public improvement or acquisition) in an amount not to exceed ($ .........) to be financed over a period not to exceed (number of years)."(d) Public improvements or assets approved under subsection (c) of this section may be financed for a period of five years or less.(e) Debt instruments authorized under this section may be refunded in the manner provided in sections 1771 and 1772 of this title. (Added 1995, No. 2, § 1, eff. Feb. 23, 1995; amended 2001, No. 64, § 22, eff. June 16, 2001.)
24 V.S.A. § 1787
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1787. Application of chapter; charters and special acts to control

§ 1787. Application of chapter; charters and special acts to control|This chapter shall not affect rights allowed a municipal corporation by its charter provisions, nor any rights granted by special act of the Legislature. This chapter, except where inconsistent with such charter or special act, shall apply to the method of exercising all such rights. (Amended 1989, No. 111, § 3, eff. June 22, 1989.)
24 V.S.A. § 1788
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1788. Existing powers continued; emergencies

§ 1788. Existing powers continued; emergencies|The existing power of a municipality to authorize public improvements by a majority vote in a meeting duly called and held and to finance the same temporarily by the issue of orders or notes, and to issue bonds therefor, is not repealed nor affected by the provisions of this subchapter. Such municipality may refund all or any portion of such temporary orders, notes, or bonds in the method provided by sections 1771 and 1772 of this title. Nevertheless, no public improvement which has been voted upon in the method provided by sections 1755 and 1756 of this title shall be voted upon in any such meeting, except in cases of emergency, in which the vote stating the emergency shall be conclusive evidence of its existence. The existing power of a municipality to refund obligations representing indebtedness accumulated in the ordinary administration of the affairs of such municipality, whether incurred for public improvements or for current expenses, and with or without vote of such municipality, is not repealed nor affected by the provisions of this subchapter, except that the method of such refunding shall be as provided in sections 1771 and 1772 of this title.
24 V.S.A. § 1789
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1789. Alternative financing of assets

§ 1789. Alternative financing of assets|(a) A municipality, including a fire district, either singly or as a participant in an interlocal contract entered into under sections 4901 and 4902 of this title, may acquire personal property, fixtures, technology, and intellectual property by means of leases, lease-purchase agreements, installment sales agreements, and similar agreements wherein payment and performance on the part of the municipality is conditioned expressly upon the annual approval by the municipality of an appropriation sufficient to pay when next due rents, charges, and other payments accruing under such leases and agreements.(b) The legislative body of the municipality shall enter into leases and agreements identified in subsection (a) of this section on behalf of the municipality and under such terms as it deems to be in the best interest of the municipality.(c) The undertaking of a municipality to make payments under a lease or agreement identified in subsection (a) of this section shall not be a general or special obligation of the municipality, but shall be treated as a current operating expense. Payments made or to be made under such lease or agreement shall not be taken into account in calculating the debt limit of a municipality for any purpose. (Added 2007, No. 79, § 5, eff. June 9, 2007.)
24 V.S.A. § 1821
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1821. Definitions

§ 1821. Definitions|When used in this subchapter:  (1) "Bond" means any bond or note issued by the municipal corporation and payable out of the net revenues from the operation of a public utility project. (2) "Cost of operation and maintenance" shall mean the expenses for operation, maintenance, repairs, and ordinary replacements properly and directly attributable to the operation or ordinary maintenance of the public utility project. (3) "Net revenues" shall mean revenues less cost of operation and maintenance. (4) "Project" shall mean an undertaking for the acquisition, construction, reconstruction, improvement, financing, enlargement, extension, or betterment of any of the following public utility systems:  (A) Water systems or facilities as defined in chapter 89 of this title. (B) Sewage disposal systems or facilities as defined in chapter 97 or 101 of this title. (C) Systems or facilities for the generation, production, transmission, or distribution of gas (natural, artificial, or mixed) for lighting, heating, or power for public and private uses, as provided in 30 V.S.A. chapter 79 or by charter or special act. (D) Systems or facilities for the generation, production, transmission, or distribution of electric energy, including the ownership, operation, and management of a municipal plant as defined in 30 V.S.A. § 2901 and other generation, production, transmission, and distribution facilities located within and without the State. (E) Systems, facilities, and equipment for the collection, treatment, or disposal of solid waste, including sanitary landfills, and the generation, transmission, distribution, and sale of all products and forms of energy derived therefrom.  (5) "Revenues" mean all revenues, rates, fees, charges, rents, or other income and receipts received by the municipal corporation from any source, or accrued to the municipal corporation, or any department, board, or agency thereof, in connection with the management and operation of a public utility project or system, and shall also include any interest received on any monies or securities of the municipal corporation which are pledged to the payment of the municipal corporation's bonds, and any federal or State grants-in-aid with respect to such project or system. (Amended 1989, No. 111, § 5, eff. June 22, 1989.)
24 V.S.A. § 1823
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1823. Payment exclusive; effect

§ 1823. Payment exclusive; effect|(a) The bonds issued and contracts entered into in connection therewith as authorized in section 1822 of this title and the interest thereon shall be payable solely and exclusively from net revenues derived from the public utility system or project and shall not constitute general indebtedness of the municipal corporation nor be an obligation or liability upon the municipal corporation to pay the same from any funds of the municipal corporation other than such net revenues. No holder or holders of any contracts entered into or bonds issued under this subchapter shall ever have the right to compel any exercise of the taxing power of the municipal corporation to pay such contracts or bonds, or the interest thereon. A statement referring to the limited nature of the contract or bond and reciting that it had been entered into or issued under this subchapter shall be made plainly to appear in or upon each contract or bond.(b) The bonds or contracts authorized by this subchapter shall not be affected by the restrictions and limitations of subchapter 1 of this chapter relating thereto. (Amended 1989, No. 111, § 7, eff. June 22, 1989.)
24 V.S.A. § 1825
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1825. Construction

§ 1825. Construction|Nothing contained in this subchapter shall be so construed as authorizing the establishment or operation of a public utility. The provisions of this subchapter shall apply only to a public utility authorized by a special act or under the general law. Bonds may be issued hereunder for public utility projects of the municipal corporation notwithstanding that any other law may provide for the issuance of bonds for like purposes. This subchapter is remedial in nature and the powers hereby granted shall be liberally construed to effectuate the purposes hereof, and to this end the municipal corporation shall have powers necessary and prudent to carry out the purposes hereof in addition to the powers expressly conferred in this subchapter. (Amended 1989, No. 111, § 9, eff. June 22, 1989.)
24 V.S.A. § 1826
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 53 - Indebtedness|§ 1826. Actions barred

§ 1826. Actions barred|(a) No action shall be brought directly or indirectly attacking, questioning, or in any manner contesting the legality or validity of municipal revenue bonds for public utility purposes, issued or unissued, voted by any municipality or by any other municipal corporate entity, after six months from the date upon which voters in any such municipality or other municipal corporate entity met pursuant to warning and voted affirmatively to issue bonds to defray costs of municipal utility purposes or upon vote of a question of recission thereof whichever occurs later.(b) This section shall be liberally construed to effect the legislative purpose to validate bonds issued or authorized by municipalities or other municipal corporate entities for public utility purposes, and to bar every right to question in any manner the validity of a bond voted by it for public utility purposes, and to bar every remedy therefor notwithstanding any defects or irregularities, jurisdictional or otherwise, after expiration of the six-month period. (Added 1975, No. 57, § 2, eff. April 18, 1975.)