Ch 54 - Tax Anticipation Notes

Ch 54 - Tax Anticipation Notes

Adopted: March 14, 1978


54-1. village districts may apply before tax rate establishment.

Village districts may apply to the Town for tax-anticipated money before the tax rate has been established for the Town if said district presents to the Selectmen a district budget, approved at a properly constituted district meeting, called for the purpose of approving the budget.

54-2. Town may advance money; restrictions.

The Town may advance to any village district a share of any money borrowed by the Town in anticipation of taxes, not exceeding the total approved budget amount to be paid to such district.

54.3. Town may charge proportionate share of interest due.

The Town may charge the districts a proportionate share of the interest due on the tax-anticipated notes.


[HISTORY: Adopted 3-14-78 by the Annual Town Meeting, Art. 42. Amendments noted where applicable.]