Current as of January 01, 2020 | Updated by FindLaw Staff
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(a) The proceeds of all bonds or notes shall be used for the purpose for which they were authorized. However, any unexpended balance remaining after carrying out the purpose for which they were authorized may, by vote of any annual or special City meeting duly warned and held for that purpose, be authorized for any purpose for which bonds may be issued, in accordance with general law, or transferred to a sinking fund established by the Council.
(b) Repealed by 2017, Adj. Sess., No. M-18, § 2, eff. May 21, 2018.
Cite this article: FindLaw.com - Vermont Statutes Title 24 (Appendix). Municipal Charters, App. c. 5 § 1117. Use of unexpended bond proceeds - last updated January 01, 2020 | https://codes.findlaw.com/vt/title-24-app-municipal-charters/vt-st-tit-24-app-c-5-sect-1117/
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