Authority to pledge credit of City Whenever the legal voters of the City shall authorize the City Council to pledge the credit of the City for any purpose, the City shall have authority to issue negotiable orders, warrants, notes, or bonds, not to exceed the limit prescribed by law, for which the legal voters aforesaid have given authority to so pledge the credit of the City. Such notes or bonds shall be payable at such time and at such rate of interest as shall be established by resolution of the City Council. (Added 2013, No. M-9, § 3, eff. June 4, 2013.) § 716. Authority to pledge credit of City Whenever the legal voters of the City shall authorize the City Council to pledge the credit of the City for any purpose, the City shall have authority to issue negotiable orders, warrants, notes, or bonds, not to exceed the limit prescribed by law, for which the legal voters aforesaid have given authority to so pledge the credit of the City. Such notes or bonds shall be payable at such time and at such rate of interest as shall be established by resolution of the City Council. (Added 2013, No. M-9, § 3, eff. June 4, 2013.)
Vermont Legal Code