Vermont § 40 - Application of water rents The rents and receipts
Full text of Vermont Vermont Statutes Online § 40 — Application of water rents The rents and receipts, with citation guidance and answers to common questions.
§ 40. Application of water rents The rents and receipts
- of said corporation for the use of water shall first be applied to pay the annual interest as it becomes due, upon the bonds issued by said corporation to the Barton Landing Water Company for the purchase price of its property and privileges, and whenever such rents and receipts shall exceed the amount required to pay such interest, and the interest of any other water bonds of said corporation, it shall be the duty of said corporation to pay such excess, in the necessary repairs, management, and additions to said waterworks; and the balance of such excess, if any, shall be invested by the Treasurer of said corporation, with the approval of the trustees, in the name of said corporation, and the same shall be set apart as a sinking fund, and be applied solely for the payment or purchase of said water bonds or other bonds of said corporation until the full amount of said bonds shall be paid. (Added 1892, No. 114, § 40.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 40
What does Vermont Statutes Online § 40 cover?
Section 40 ("Application of water rents The rents and receipts") 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 § 40?
A common citation format is "Vermont Statutes Online § 40" (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 § 40 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.