24 V.S.A. App. ch. 414, § 411: Capital reserve fund

(a) The Board of Supervisors, with the approval of a majority of the voters present and voting at a special District meeting called and warned for such purpose, may establish and provide for a capital reserve fund to pay for public improvements in furtherance of the purposes for which the District was created.

(b) Any such capital reserve fund shall be kept in a separate account and invested as are other public funds and may be expended for the purpose for which established, or other purposes when authorized by a majority of the voters present and voting at a special District meeting duly called and warned for that purpose.

(c) The cost of payments to any capital reserve fund shall be included in the annual budget of the District and shall be allocated among the member municipalities as provided in section 404 of this charter.