Vermont Statutes Title 16 Sec. 743
Terms Used In Vermont Statutes Title 16 Sec. 743
- School district: means a school district organized as a town school district, city school district, incorporated school district, or union school district, unless clearly inapplicable. See
- Unified union school district: means a union school district organized to provide for the education of the district's resident students in all grades, prekindergarten through grade 12. See
- Union school district: means a municipality formed under the provisions of this chapter that is governed by a single publicly elected board and that is responsible for the education of students residing in two or more towns in the grades for which the district is organized by:
§ 743. Bond issues; debt limit
(a) A unified union school district may make improvements, as defined by 24 V.S.A. § 1751 (municipal and county government; indebtedness definitions), and may incur indebtedness for improvements as provided in 24 Vt. Stat. Ann. chapter 53, subchapter 1 (municipal and county government; indebtedness generally).
(b) The debt limit of the unified union school district shall be 10 times the total of the education grand lists of the towns within the unified union school district. The existing indebtedness of a unified union school district incurred to finance any project approved under sections 3447 to 3456 (State aid for capital construction costs) of this title shall not be considered a part of the indebtedness of the unified union school district for purposes of determining its debt limit for a new proposed bond issue.
(c) Bond issues under this section shall be determined by Australian ballot and shall proceed pursuant to sections 737 (warnings of unified union school district meetings) and 739-742 (vote by Australian ballot) of this subchapter. The ballots shall be commingled before counting. (Added 2021, No. 176 (Adj. Sess.), § 3, eff. June 7, 2022.)