§ 1762. Limits
(a) A municipal corporation shall not incur an indebtedness for public improvements which, with its previously contracted indebtedness, shall, in the aggregate, exceed ten times the amount of the last grand list of such municipal corporation. Bonds or obligations given or created in excess of the limit authorized by this subchapter and contrary to its provisions shall be void.
(b) However, the provisions of this subchapter as to the debt limit shall not apply to bonds issued under section 1752 or 1754 of this title, relating to the ordinary expenses of a municipality. (Amended 2011, No. 155 (Adj. Sess.), § 10.)
Structure Vermont Statutes
Title 24 - Municipal and County Government
§ 1752a. Privately owned municipality-supported libraries
§ 1756. Notice of meeting; authorization
§ 1757a. Validation of consolidated water or sewer districts and bonds voted for construction
§ 1759. Denominations; payments; interest
§ 1760. Bonds validated—Over five percent
§ 1764. Taxes to meet interest and payments
§ 1768. Form of bond and coupon
§ 1771. Refunding bonds; authorization
§ 1772. Refunding bonds; procedure and limitations
§ 1775. Cancellation and record of old bonds
§ 1778. Registered obligations; authority to issue
§ 1779. Registration on request
§ 1780. Certificate of registration indorsed; when
§ 1781. Change of coupon bonds to registered bonds
§ 1782. Registered bonds; form of certificate
§ 1783. Registered bonds; indorsement conclusive evidence of authority
§ 1784. Registered bonds; treasurer to keep record
§ 1785. Registered bonds; conversion not to affect liability
§ 1786. Borrowing to pay current expenses in anticipation of taxes
§ 1786a. Borrowing for public improvements and capital assets
§ 1787. Application of chapter; charters and special acts to control
§ 1788. Existing powers continued; emergencies
§ 1789. Alternative financing of assets
§ 1822. Powers; approval of voters
§ 1823. Payment exclusive; effect
§ 1827. Enforcement of bond obligations
§ 1881. Form of bonds, notes, and certificates
§ 1894. Power and life of district
§ 1895. Original taxable value
§ 1898. Powers supplemental; construction