# 16 V.S.A. § 429: Loans

> Vermont · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S429

## Section

- **Citation:** 16 V.S.A. § 429
- **Heading:** Loans
- **Jurisdiction:** Vermont
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** VT Code / Title 16 / Chapter 9 / Section 429

## Text

Notwithstanding subsection 4029(b) of this title, a school board may draw orders for loans without interest to the town's general fund, and the town selectboard may draw orders for loans without interest to the school district fund, the loans to be secured by a note signed by both the selectboard and the school board that stipulates mutually agreeable terms and conditions. A note shall be payable not more than 90 days after its issuance and shall be payable on demand anytime within the 90-day term. The school board shall report all loans to the Agency pursuant to subsection 4029(f) of this title. For purposes of this section, “town” and “selectboard” shall have the same meaning as they have in 1 V.S.A. § 139.

## Nearby sections

- [16 V.S.A. § 421 § 421. Town school districts](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S421.md)
- [16 V.S.A. § 422 § 422. Meetings](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S422.md)
- [16 V.S.A. § 423 § 423. Directors, number, election; term](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S423.md)
- [16 V.S.A. § 424 § 424. Vacancies](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S424.md)
- [16 V.S.A. § 425 § 425. Other town school district officers](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S425.md)
- [16 V.S.A. § 426 § 426. Duties of the town school district treasurer](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S426.md)
- [16 V.S.A. § 427 § 427. Grand list](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S427.md)
- [16 V.S.A. § 428 § 428. Budget to be voted](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S428.md)
- [16 V.S.A. § 429 § 429. Loans](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S429.md)
- [16 V.S.A. § 471 § 471. Application of other laws](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S471.md)
- [16 V.S.A. § 472 § 472. Meetings; warnings](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S472.md)
- [16 V.S.A. § 473 § 473. Eligibility of voters](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S473.md)
- [16 V.S.A. § 474 § 474. Records](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S474.md)
- [16 V.S.A. § 475 § 475. Statistical information](https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S475.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_VT_T16_C9_S429. Check the current official text before relying on it. Not legal advice.