Vermont Statutes Title 24 Sec. 1763
Terms Used In Vermont Statutes Title 24 Sec. 1763
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Legislative branch: shall mean the mayor and board of aldermen of a city, the selectboard of a town, the trustees of a village, the board of school directors of a school district, the trustees or prudential committee of a graded school or fire district, and the Board of Governors of the unified towns and gores of Essex County, and, with respect to other municipal corporations, the governing body designated by statute. See
- said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
§ 1763. Specifications
The legislative branch shall determine the rate of interest or the manner of determining the same, the date, the denominations, the time and place of payment, and the form of bonds and notes to be used by the municipal corporation. The legislative branch may provide that the bonds be sold on bids fixing the rate of interest or the manner of determining the same from time to time for the period during which said bonds or notes shall remain outstanding, and if so sold, the accepted bid shall fix the rate of interest the bonds are to bear or the manner by which such rate of interest shall be determined periodically. When bonds are to be registered they shall be registered as provided by this chapter. (Amended 1985, No. 125 (Adj. Sess.), § 3, eff. April 18, 1986.)