There is a newer version of the Vermont Statutes
2011 Vermont Code
Title 16 Appendix Education Charters and Agreements
Chapter 11 ESSEX JUNCTION SCHOOL DISTRICT
§ 5.02 Borrowing
16 VT Stats App. § 11-5.2. (2011 through Adj Sess) What's This?
§ 11-5.2. Borrowing
The district may borrow money in any year in anticipation of taxes assessed in such year, in an amount not to exceed 90 percent of the taxes assessed in such year. Such notes or orders, however, must mature within one year from the date thereof and be paid from the taxes assessed and collected in such year.
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