Vermont § 3679 - Finances—Sewer rates; application of revenue

§ 3679. Finances—Sewer rates; application of revenue

• (a) The board of sewer commissioners of a consolidated sewer district shall establish
  rates for the sewer service and all individuals, firms, and corporations whether private,
  public, or municipal shall pay to the treasurer of the district the rates established
  by the board. The manner of establishment of the rates shall be in accord with section
  3616 of this title. The rates shall be so established as to provide revenue for the
  following purposes: (1) to pay current expenses for operating and maintaining the sewer system; (2) to provide for the payment of interest on the indebtedness created by the district; (3) to provide each year a sum equal to not less than two percent nor more than five percent
  of the entire indebtedness created or assumed by the district to pay for the cost
  of the sewer system and improvements thereto, which sum shall be used to pay indebtedness
  maturing in that year or turned into a sinking fund and there kept to provide for
  the extinguishment of indebtedness of the district; (4) if any surplus remains at the end of the year, it may be turned into the sinking fund
  or used to pay the cost of improvements to the sewer system. (b) The money set aside for the sinking fund and any increment thereon shall be devoted
  to the retirement of obligations of the district or invested in such securities as
  savings banks or fiduciaries or trustees are now or hereafter allowed to hold. The
  balance of revenue, if any, required to meet expenses shall be apportioned among and
  collected from member towns as herein provided. (c) When a rate established under this section for the management of stormwater is applied
  to property owned, controlled, or managed by the Agency of Transportation, the rate
  shall not exceed the highest rate category applicable to other properties in the municipality,
  and the Agency of Transportation shall receive a 35 percent credit on the rate. The
  Agency of Transportation shall receive no other credit on the rate from the consolidated
  sewer district. (Added 1967, No. 318 (Adj. Sess.), § 8, eff. March 22, 1968; amended 2015, No. 158 (Adj. Sess.), § 31, eff. June 2, 2016; 2023, No. 143 (Adj. Sess.), § 14, eff. July 1, 2024.)