Vermont § 408 - Indebtedness; short-term borrowing
Full text of Vermont Vermont Statutes Online § 408 — Indebtedness; short-term borrowing, with citation guidance and answers to common questions.
§ 408. Indebtedness; short-term borrowing
- (a) The Board of Supervisors may borrow money through the issuance of notes of the District
for the purpose of paying current expenses of the District. However, the notes must
mature within the fiscal year in which they were issued. (b) The Board of Supervisors may also borrow money in anticipation of taxes in an amount
not to exceed 90 percent of the amount of taxes assessed for each year and may issue
notes of the District that must mature within the fiscal year in which they were issued. (c) The Board of Supervisors may also borrow money in anticipation of any revenues other
than taxes through the issuance of notes of the District. However, the notes must
mature within the fiscal year in which they were issued. (Added 2019, No. M-2, § 2, eff. April 19, 2019.)
Frequently Asked Questions About Vermont § 408
What does Vermont Statutes Online § 408 cover?
Section 408 ("Indebtedness; short-term borrowing") 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 § 408?
A common citation format is "Vermont Statutes Online § 408" (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 § 408 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.