§ 5.15 - Credit of the city for current expenses - Vermont Statutes

§ 17-5.15. Credit of the city for current expenses

The money raised by taxation, from fines and other lawful sources, shall constitute the entire sum from which appropriations and payments are to be made, according to law, by or under the authority of the city council. The credit of the city to an amount not exceeding the current revenues for the fiscal year, may be pledged by the city council for the purpose of raising funds to meet the current expenses of the city. Such loans shall be paid on or before one year from date thereof.