§ 8. Termination of membership
(a) A member municipality may withdraw from membership in the Authority if notification of withdrawal is given more than one year after the member municipality joined such Authority. The withdrawal shall take effect at the end of the first full fiscal year following such notification of withdrawal, such notification to be in the form of a resolution duly adopted by the legislative body of the withdrawing member and delivered to the Board of Commissioners at a regular meeting thereof.
(b) Notwithstanding subsection (a) of this section, upon giving notice as required by subsection (a), a member municipality may withdraw from the Authority after the Authority has voted to bond itself in accordance with the provisions hereof but shall continue to be liable for its share of all existing indebtedness incurred under 24 V.S.A. chapter 53 at the time notice of its withdrawal is given. (Added 1973, No. 122, § 8, eff. Feb. 2, 1973.)
Structure Vermont Statutes
Title 24 Appendix - Municipal Charters
Chapter 801 - Green Mountain Transit Authority
App § 1. Creation of Authority
App § 3. Membership in the Authority
App § 5. Exemption from regulation
App § 6. Government and organization
App § 7. Annual budget and assessments
App § 8. Termination of membership
App § 9. Miscellaneous provisions
App § 11. Assessments of new members outside Chittenden County
App § 12. Municipalities authorized to vote for membership in the Green Mountain Transit Authority