Vermont § 225 - Powers of Board

§ 225. Powers of Board

• (a) The City Council shall, in addition to the other powers granted to it under this charter,
  have power to make all necessary repairs, extensions, or improvements to said works,
  and to provide new supply pipes within the City. (b) The City Council may pledge the credit of the City and incur obligations to be paid
  in installments over a period of years and only from revenues of the Water Division
  of the Public Works Department to pay the cost of such improvements and additions
  to the property and equipment of the Water Division of the Public Works Department
  as, in the judgment of the City Council, the interests of the City require to be made
  and, for the purpose of paying such costs, may pledge, assign, or otherwise hypothecate
  such portion of the net earnings or profits of the Water Division of the Public Works
  Department from year to year as may be required to pay such installments, and the
  City Council shall authorize and direct the execution and issuance of such contracts
  and evidences of indebtedness as may be necessary to so pledge the credit of the City
  for the payment of such obligations in such installments from the net earnings of
  the Water Division of the Public Works Department, such contracts and evidences of
  indebtedness to be in such form and to contain such provisions and to be executed
  by such officers as the City Council may by resolution provide; provided, however,
  that all such obligations and all installments thereof shall be payable only from
  the net earnings or profits of the Water Division of the Public Works Department and
  shall not constitute an indebtedness of the City or impose an obligation or liability
  upon the City to pay the same from any funds of the City other than such net earnings
  or profits, and in case revenue bonds of the City are issued for such obligations,
  the same shall not be subject to the bonding limit provided by law. (c) The City Council shall also have all the powers and duties of sewage disposal commissioners
  under the provisions of 24 V.S.A. chapter 101.