§ 37. Sinking fund
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 the purpose, may establish and provide for a sinking fund which shall serve and be used exclusively as a debt service reserve fund for the retirement of bond issue or other service reserve fund for the retirement of bond issue or other debt. When established, the sinking fund 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 those obligations, and shall not be appropriated or used for the current expenses of the District. The cost of payments to any sinking fund shall be included in the annual budget of the District provided in subsection 33(c) of this chapter, unless otherwise provided by applicable law and in the vote authorizing the same. (Added 2005, No. M-8, § 2.)
Structure Vermont Statutes
Title 24 Appendix - Municipal Charters
Chapter 601 - Rutland County Recreational District
App § 9. Organizational meeting
App § 17. Compensation of members of Board of Supervisors
App § 19. Telephone participation
App § 31. Compensation of officers
App § 33. Budget, appropriation, and assessment
App § 35. Limitations of appropriations
App § 38. Capital reserve fund
App § 46. Qualifications and registration of voters
App § 48. Reconsideration or rescission of vote
App § 49. Validation of District meetings
App § 51. Withdrawal of member municipality