Vermont Statutes
Chapter 215 - Village of Derby Center
App § 903. Authority to issue bonds for electric light plant

§ 903. Authority to issue bonds for electric light plant
Said Village shall be authorized to issue bonds, not exceeding seven thousand dollars, on such terms as said Village may prescribe, for the purpose of constructing and operating the electric light plant herein provided for, and in case said Village shall neglect to make seasonable provisions, for the payment of the principal or interest, of such bonded indebtedness as the same shall from time to time mature, the Treasurer of said Village shall be clothed with the power to make out and deliver to the Collector of said Village, a tax bill on the grand list of said Village, and the Treasurer shall forthwith issue to said Collector a warrant, substantially in form as now provided to be issued for the collection of town or other taxes by town treasurers, directing the collection and payment of said tax to said Treasurer, within 60 days from the time of such delivery, in amount to seasonably and promptly pay the interest or principal, or both, then past due and unpaid, with all proper charges for assessing and collecting the same; and such tax shall be collected and paid into said treasury promptly according to such warrant, and the money so collected and paid to such Treasurer shall be especially held, appropriated, and used for the payment of such interest or principal or both, and for no other purpose save the incidental expense of assessing and collecting such tax. And it is hereby made the duty of the Treasurer of said Village to provide for and promptly pay the interest on and the principal of said bonded indebtedness, as the same shall become due and payable from time to time, without any vote thereupon of said Village, and such tax bill shall have all the force and authority in every respect of a tax bill for a tax voted at a regular meeting of said Village.

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