§ 1873 - Authorization by voters - Vermont Statutes

§ 1873. Authorization by voters

The proposition of issuing bonds under this subchapter to pay for an off street public parking project or projects shall be submitted to the qualified voters of the municipality at any annual or special meeting to be held for that purpose, when at least five percent of such voters sign a petition for such submission, or when the legislative body at a regular or special meeting called for such purpose shall determine that public interest or necessity demands the establishment of an off street parking project or projects and that the costs of the same should be paid for by bonds issued pursuant to this subchapter, by vote of two-thirds of all its members. The warning calling such a meeting shall state the object, the purpose for which it is proposed to issue bonds, the estimated cost of the project or projects, the amount of bonds proposed to be issued under this subchapter therefor, that such bonds are to be payable solely from revenues from off street public parking projects and parking meters, and shall fix the place where and the date on which such meetings shall be held and the hours of opening and closing the polls. The notice of the meeting shall be published and posted as provided in section 1756 of this title. When a majority of all of the voters voting on the question at such meeting vote to authorize the issuance of bonds under this subchapter to pay for such public off street parking project or projects, the legislative body shall be authorized to establish such public off street parking project or projects and to issue bonds as provided in this subchapter. Sections 1757 and 1758 of this title shall apply to the proceedings taken hereunder, except that the form of ballot to be used shall be substantially as follows:

Shall revenue bonds of the (name and municipality) to the amount of $______ be issued under subchapter 3 of chapter 53 of Title 24, Vermont Statutes Annotated, payable only from revenues derived from public off street parking project(s) and from parking meters, for the purpose of paying for the following public off street parking project(s)?

If in favor of the bond issue, make a cross (X) in this square [ ].

If opposed to the bond issue, make a cross (X) in this square [ ].