§ 1769 - Notes and bonds for poor relief - Vermont Statutes

§ 1769. Notes and bonds for poor relief

When a town has expended for poor relief within any one year the amount appropriated and set aside by it for this purpose in its yearly budget, which amount shall not be less than the average of the appropriation for poor relief during the previous five years, the legislative branch of said town is authorized to issue its negotiable notes for any excess expenditures for poor relief notwithstanding the provisions of its charter to the contrary, provided, however, at no time shall the total of notes outstanding for this purpose exceed 60 percent of the grand list of said town. Whenever a town has expended for poor relief within any one year the moneys appropriated and budgeted as aforesaid, and shall have issued negotiable notes at any time, and outstanding up to 60 percent of its grand list as aforesaid, such town may issue its negotiable bonds, to be denominated "poor relief bonds," to such an amount as the two-thirds of the legal voters present and voting shall decide at an annual town meeting or at a special town meeting duly warned for that purpose.