Incurring Debt. A. The Committee may vote by majority vote to incur debt consistent with the terms and conditions of ▇.▇. ▇. 71, § 16, as amended. The provisions of ▇.▇. ▇. 71, § 16(n) shall be followed to secure the approval of any such vote by the registered voters of the Member Towns, provided, however, that the Committee may elect to follow the process under section 16(d) upon a vote of 2/3 of its members. B. Debt may be incurred by the District, if approved in accordance with the Committee’s chosen statutory method. C. Each Member Town shall pay to the District its proportionate share of capital costs that consist of payments of principal and/or interest on bonds or notes issued by the District in accordance with section V(B) above.
Appears in 3 contracts
Sources: 8 Town Regional Agreement, Regional School District Agreement, 8 Town Regional Agreement