Vermont § 1789 - Alternative financing of assets
Full text of Vermont Vermont Statutes Online § 1789 — Alternative financing of assets, with citation guidance and answers to common questions.
§ 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.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 1789
What does Vermont Statutes Online § 1789 cover?
Section 1789 ("Alternative financing of 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 § 1789?
A common citation format is "Vermont Statutes Online § 1789" (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 § 1789 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.