24 V.S.A. § 1771: Refunding bonds; authorization

A municipal corporation that has outstanding and unpaid orders, notes, bonds, or coupons, lawfully issued, may issue other negotiable notes or bonds to pay or retire the same. Such bonds shall be signed, sold, made payable, and mature in the same manner as an original issue of bonds of a municipal corporation is signed, sold, made payable, and mature, as provided in this subchapter.