NO. 6. AN ACT RELATING TO BONDING FOR CHITTENDEN COUNTY COURTHOUSE REPAIRS AND TO BORROWING FOR RUTLAND COUNTY COURTHOUSE RENOVATIONS.
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. CHITTENDEN COUNTY; SUBMISSION OF BOND ISSUE BY
Notwithstanding any provisions of 24 V.S.A. § 82 to the contrary, the assistant judges of Chittenden County may submit to the voters a proposition for incurring bonded indebtedness to finance improvements and repairs to the Chittenden County courthouse at any time subsequent to the 90th day following completion of preliminary construction plans and cost estimates.
Sec. 2. RUTLAND COUNTY; BORROWING AUTHORIZED; ASSISTANT
Notwithstanding any provisions of 24 V.S.A. § 82 to the contrary, the assistant judges of Rutland County may borrow a sum not to exceed $125,000.00 to pay for renovations and improvements to the county courthouse, including alterations necessary to ensure accessibility. Notes or other evidence of indebtedness not exceeding that amount, payable in not more than five years from the date of execution, may be issued by the county treasurer on behalf of the County of Rutland. All such notes or evidence of indebtedness shall contain on their face a statement of the purpose for which they are issued and of the authority conferred by this section and shall be evidence of the county’s liability to the bona fide holder of the instrument. The form, denominations, maturities, interest rates, and other terms, conditions, and details of the note or other evidence of indebtedness shall be determined by resolution of the assistant judges of Rutland County. Notes or other evidence of indebtedness issued under the provisions of this section shall be paid from county funds raised by taxation pursuant to 24 V.S.A. § 133.
Sec. 2a. SUNSET
The authority to borrow conferred by Sec. 2 of this act shall terminate on January 1, 2004. Any funds borrowed and notes or other forms of indebtedness issued prior to that date shall be subject to the terms of this act until repaid.
Sec. 3. EFFECTIVE DATE
This act shall take effect upon passage.
Approved: April 22, 2003