§ 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.)
Structure Vermont Statutes
Title 24 Appendix - Municipal Charters
Chapter 414 - Rutland County Solid Waste District
App § 204. Organizational meeting
App § 212. Compensation of members of Board of Supervisors
App § 312. Compensation of officers
App § 403. Budget adoption, appropriation, and assessment
App § 404. Budget, appropriation, and assessment; apportionment of taxes
App § 405. Initial budget and appropriation
App § 407. Limitations of appropriations
App § 408. Indebtedness; short-term borrowing
App § 409. Indebtedness; long-term indebtedness and long-term contracts
App § 411. Capital reserve fund
App § 413. Transportation and collection sites
App § 507. Qualifications and registration of voters
App § 508. Conduct of meetings
App § 509. Reconsideration or rescission of vote
App § 510. Validation of District meetings
App § 601. Withdrawal of member municipality
App § 602. Admission of new member municipalities
App § 603. Dissolution of District