Download this document in MS Word 97 format
NO. 71. AN ACT RELATING TO RECORDING AND REPORTING LOCAL INDEBTEDNESS.
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. REPEAL
32 V.S.A. § 108 (Municipal Indebtedness) is repealed.
Sec. 2. 24 V.S.A. § 1774 is amended to read:
§ 1774. RECORD BY TREASURER
(a)]* The treasurer of each governmental unit as defined in section 4551(5) of this title shall keep a record of every obligation assumed by that unit.
*[ (b) The treasurer of each governmental unit shall report to the state treasurer on or before August 1 of each year the total amount of long term obligations owing as of June 30 excluding temporary notes of less than three-year maturity. ]*
Approved: March 23, 2000