Vermont Statutes Title 32. Taxation and Finance, § 951a. Debt service funds

(a) Three governmental debt service funds are hereby established:

(b) Financial resources in each fund shall consist of appropriations by the General Assembly to fulfill debt service obligations, the transfer of funding sources by the General Assembly to fulfill future debt service obligations, bond proceeds raised to fund a permanent reserve required by a trust agreement entered into to secure bonds, transfers of appropriations effected pursuant to section 706 of this title, investment income earned on balances held in trust agreement accounts as required by a trust agreement, and such other amounts as directed by the General Assembly or that are specifically authorized by provisions of this title. Each debt service fund shall account for the accumulation of resources and the fulfillment of debt service obligations within the current fiscal year and the accumulation of resources for debt service obligations maturing in future fiscal years.

(c) Debt service obligations of general obligation bonds, transportation infrastructure bonds, or other authorized long-term obligations shall be fulfilled from the respective governmental debt service funds established in this section.

(d) As used in this section, “debt service obligations” of bonds include requirements to: