§ 52. Debt and bonded debt for Town improvements
(a) Authorization for any long-term debt shall be granted by the voters at an annual or special Town meeting duly authorized for that purpose. As used in this section, “long-term” means a period of indebtedness greater than five years.
(b) An article requesting authorization to incur long-term debt can only be placed on the warning by a vote of four Selectboard members.
(c) [Repealed.]
(d) Articles requesting authorization for long-term debt shall be warned in accordance with State statute.
(e) The Town Treasurer shall be authorized, subject to the approval of the Selectboard, to incur short-term debt in anticipation of taxes for funding. (Amended 2021, No. M-13 (Adj. Sess.), § 2, eff. May 16, 2022.)