Vermont Statutes
Chapter 215 - Village of Derby Center
App § 801. Borrowing authority

§ 801. Borrowing authority
Said Village at an annual or at any special meeting called for that purpose, is hereby authorized and empowered to vote to borrow money for any of the purposes herein mentioned, and to issue its notes and bonds therefor, and such notes or bonds shall be signed by the trustees and countersigned by the Treasurer of said Village, and if interest coupons are attached they shall be signed by the Treasurer; and the bonds or notes shall contain a statement that they were issued for the purposes mentioned and in conformity with the provisions of this charter, and such statement shall be conclusive evidence of the same, and of the liability of the Village to pay such notes or bonds in an action by a person who in good faith holds such notes or bonds. The Village Treasurer shall keep a record of every note or bond issued under the provisions of this charter, therein stating the number and denomination of each note or bond, when and where payable, to whom issued, and the rate of interest thereon; and also shall keep a record of payments, interest, and principal, and if any coupons are taken up shall deface the same.

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