Title 24 Appendix: Municipal Charters
Chapter 245: VILLAGE OF MORRISVILLE
24 V.S.A. App. § 245-19. Electric plant; regulation
§ 245-19. Electric plant; regulation
The village's operation of its electric plant, as defined herein, shall take place in accordance with the statutory authority and requirements of chapter 79 of Title 30, relating to municipal electric plants, and chapter 53 of Title 24, relating to municipal indebtedness, with regard to the financing, improvements, expansion, and disposal of the municipal electric plant and its operations. However, the powers conferred by these sections shall be supplemental to, construed in harmony with, and not in restriction of, the powers conferred in this charter. With specific reference to the legislative authorization contained in sections 1821-1828 of chapter 53 of Title 24, entitled "Indebtedness for Public Utility Purposes," the village is permitted to issue revenue-backed bonds or general obligation bonds for any capital improvement purpose related to its responsibilities to operate such utilities for the benefit of the people of the village, provided each such issue of bonds is approved
in accordance with law, and any restriction in this charter or the general law regarding the maximum outstanding debt that may be issued in the form of general obligation bonds shall not restrict the issuance of any bonds issued by the village and payable out of the net revenues from the operation of a public utility project. The activities of the village in connection with the powers conferred herein shall be subject to regulation only to the extent specifically required by Title 30 and other applicable law, but only to the extent that the village is engaging in activities that are specifically subject by law to regulation. The public service board shall at all times exercise its regulatory powers in such a manner as to permit the village to fulfill all of its prudently incurred obligations, including its obligations to the holders of the bonds issued by the village. However, the public service board shall not prohibit appropriate cost allocations among departments of the village.