An act relating to approval of an amendment to the charter of the City of Burlington

This bill formally approves an amendment to the City of Burlington's charter that was previously voted on by local residents in March 2024. The change updates state law to clarify how the city can borrow money, allowing the city council to pledge the city's credit for loans up to 25 percent of annual taxes or for emergency situations. It also creates specific exceptions that let the city's chief administrative officer borrow up to $10 million in anticipation of revenue from the Electric Department for working capital, while other temporary loans must be repaid from property taxes once collected. The amendment takes effect immediately upon the bill's passage and signing into law.