§ 3226 - Revenue from grammar school lands - Vermont Statutes

§ 3226. Revenue from grammar school lands

(a) The board of school directors or prudential committee of a school district within which grammar school lands are located, provided the revenue of such lands has not been granted to a particular academy or grammar school or to a particular use by special act of the general assembly, shall have control and management thereof, may lease the same on the expiration of existing leases and may sue for and collect and disburse all revenues arising therefrom.

(b) When in any school district in which lands are located a high school or an academy, approved by the board of education, is maintained by a town or incorporated school district, the revenues arising from such lands shall be used in the maintenance of such high school or academy; but if such high school or academy is not maintained by the district, the revenues arising from such lands shall be used in the payment of the tuition of resident students pursuing advanced instruction in other districts.

(c) All funds that have accumulated in the hands of trustees from grammar school lands located within a town or incorporated school district shall be paid over to the board of school directors or prudential committee, as the case may be, to invest and control, for which bonds, satisfactory to the selectmen, shall be given and the income from such investment shall be used in the same manner as the revenues of the grammar school lands herein mentioned.

(d) In case the leases have not expired, which were originally granted to particular academies or grammar schools, the revenues shall be paid to the board of school directors or prudential committee of the town or incorporated school district in which such lands are located who shall receipt for the same, and they may sue for and collect all rents; and the revenues shall be used as hereinbefore provided. (Amended 1961, No. 153.)