Vermont Statutes Title 24 (Appendix). Municipal Charters, App. c. 13 § 1304. Amount to be raised by taxation

(a) Budgets for the City and the South Burlington School District shall be adopted when approved by the voters. Upon adoption of the budgets for the City and the South Burlington School District, the amounts stated therein as the amount of the budget for the City to be raised by property taxes shall constitute a determination of the amount of the levy for the purposes of the City in the corresponding tax year, and the Council shall levy such taxes on the grand list furnished by the Assessor for the corresponding tax year. The amounts stated therein as the amount of the budget for the South Burlington School District shall be used to determine the education property tax rates in accordance with 32 V.S.A. § 5402.

(b) If the budget of the City or School District is not approved by the voters at the annual meeting, the City Council or School Board may submit the budget, with or without change, to the voters at a special meeting that shall be held within 30 days of the annual meeting. This special meeting shall be warned in the same manner as that for the annual meeting with the exception that the warning for this meeting shall be filed with the City Clerk and posted not fewer than 15 days before the meeting.

(c) If the budget for the City or School District is not approved by the voters at the special meeting provided for in subsection (b) of this section, the City Council or School Board shall diligently pursue voter approval of its budget. Pending voter approval of a City or School District budget, the City and School District shall be authorized to borrow funds and make expenditures that do not exceed the amount of the budget approved by the voters for the preceding year.