Vermont § 1786a - Borrowing for public improvements and capital assets
Full text of Vermont Vermont Statutes Online § 1786a — Borrowing for public improvements and capital assets, with citation guidance and answers to common questions.
§ 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.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 1786a
What does Vermont Statutes Online § 1786a cover?
Section 1786a ("Borrowing for public improvements and capital assets") 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 § 1786a?
A common citation format is "Vermont Statutes Online § 1786a" (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 § 1786a 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.