32 V.S.A. § 436 — Interfund borrowing

Notwithstanding any provisions of law, the State Treasurer, with the approval of the
Governor, may borrow from any funds created by the General Assembly available amounts
as the Treasurer may determine to be necessary or desirable for the purpose of defraying
the expenses of government, including the payment of notes issued for these purposes.
Borrowing may be only made twice a year; first, during the period commencing 15 business
days prior to the end of the State’s fiscal year and ending 15 business days after
the end of the State’s fiscal year, and second, during the period commencing on December
10, or the preceding Friday if December 10 falls on a Saturday or Sunday, and ending
on January 10 of the succeeding year. Not later than the last day of the period during
which the funds were borrowed, the State Treasurer shall transfer to any fund from
which initial borrowing has been made an amount equal to the borrowed amount, together
with interest at the rate as the State Treasurer in the Treasurer’s sole discretion
shall determine. (