Vermont § 1506 - Budget limitations—borrowing

Full text of Vermont Vermont Statutes Online § 1506 — Budget limitations—borrowing, with citation guidance and answers to common questions.

§ 1506. Budget limitations—borrowing

  • (a) The incurring of bonded indebtedness, the issuing of bonds, the making of temporary
    loans in anticipation of bond sales, and all other matters pertaining to bonded indebtedness
    shall be controlled by such statutes as are applicable. (b) The Town, through its Selectboard, may borrow money in anticipation of taxes. (c) The Town, by vote at the annual or a special meeting, may borrow money under terms
    and conditions and for lawful municipal purposes as the Town shall vote. (d) In cases of emergency, the Selectboard may appropriate funds or borrow money in the
    name of the Town. (e) The Selectboard, in the name of the Town, may borrow funds in anticipation of federal
    and State funds that have been approved and committed, until those funds are available,
    but in no event for a term of longer than one year. (f) Any appropriation beyond the amount in the Town budget, except as specified in subsection
    (d) of this section, and all borrowing, except as specified in subsections (a), (b),
    (c), (d), and (e) of this section, shall be by vote of the Town and upon such terms
    and conditions as the Town shall vote. (Amended 2021, No. M-17 (Adj. Sess.), § 2, eff. June 7, 2022.)

Related Vermont Legal Topics

Frequently Asked Questions About Vermont § 1506

What does Vermont Statutes Online § 1506 cover?

Section 1506 ("Budget limitations—borrowing") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Vermont § 1506?

A common citation format is "Vermont Statutes Online § 1506" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Vermont law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.

How does Vermont § 1506 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.