Vermont Statutes Title 32 Sec. 1000
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Terms Used In Vermont Statutes Title 32 Sec. 1000
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 1000. Affordable amount of general obligation bond authorization
When the General Assembly authorizes the issuance of new long-term general obligation bonds, it shall consider the maximum amount of such bonds recommended as prudent for the fiscal year concerned by the Capital Debt Affordability Advisory Committee created for this purpose by this subchapter. This requirement shall apply to the authorizations of all State tax supported general obligation bonds, which are secured by the State General and Transportation Funds. (Added 1989, No. 258 (Adj. Sess.), § 1.)