§ 37. Indebtedness; short-term borrowing
(a) The Board of Commissioners may borrow money through the issuance of notes of the District in an amount not to exceed 25 percent of the District’s current operating budget, for the purpose of paying current expenses of the District. Such notes must mature within one year.
(b) The Board of Commissioners may also borrow money in anticipation of grants-in-aid from any source and any revenues other than assessments, in an amount not to exceed 50 percent of such grants or revenues, through the issuance of notes of the District. Such notes must mature within one year, but may be renewed as provided by general law; provided, however, such notes may not be renewed more than once or for a term in excess of two years from the date of the original loan without the approval of a majority of the voters of the District.
(c) The Board of Commissioners may also borrow money in anticipation of assessments to each member municipality in an amount not to exceed 90 percent of the amount assessed for each year, and may issue notes of the District which must mature within one year.
(d) The Board of Commissioners may also borrow money in anticipation of bond proceeds which have been authorized as provided in this subchapter. These notes shall be issued as provided in 24 V.S.A. chapter 53.
Structure Vermont Statutes
Title 24 Appendix - Municipal Charters
Chapter 405 - Chittenden Solid Waste Management District
App § 8. Organizational meeting
App § 13. Compensation of members of Board of Commissioners
App § 16. Administrative personnel
App § 28. Compensation of officers
App § 31. Preparation of budget
App § 34. Appropriations and revenues
App § 36. Limitations of appropriations
App § 37. Indebtedness; short-term borrowing
App § 38. Long-term indebtedness; long-term contracts
App § 40. Capital reserve fund
App § 50. Qualifications and registration of voters
App § 52. Reconsideration or rescission of vote
App § 53. Validation of District meetings
App § 55. Indemnification; contribution
App § 56. Termination of membership
App § 57. Admission of new members