Vermont § 410 - Sinking fund

Full text of Vermont Vermont Statutes Online § 410 — Sinking fund, with citation guidance and answers to common questions.

§ 410. Sinking fund

  • (a) The Board of Supervisors, with the approval of a majority of the voters present and
    voting at a special District meeting called and warned for that purpose, may establish
    and provide for a sinking fund that shall serve and be used exclusively as a debt
    service reserve fund for the retirement of bond issue or other debt. When so established,
    it shall be kept intact and separate from other monies at the disposal of the District,
    shall be accounted for as a pledged asset for the purpose of retiring the obligations,
    and shall not be appropriated or used for the current expenses of the District. (b) The cost of payments to a sinking fund established pursuant to subsection (a) of this
    section shall be included in the annual budget of the District and shall be allocated
    among the member municipalities as provided in section 404 of this charter, unless
    otherwise provided by applicable law and in the vote authorizing the same. (Added 2019, No. M-2, § 2, eff. April 19, 2019.)

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Frequently Asked Questions About Vermont § 410

What does Vermont Statutes Online § 410 cover?

Section 410 ("Sinking fund") 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 § 410?

A common citation format is "Vermont Statutes Online § 410" (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 § 410 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.