§ 279-7. Village Treasurer

(a) The Village Treasurer shall be a Village resident or nonresident appointed by the Board of Trustees at the first meeting of the Board of Trustees following each annual meeting of the Village. These appointments shall be recorded in the office of the Village Clerk. After appointment, the Village Treasurer shall appoint one or more assistant Village treasurers with the approval of the Board of Trustees, for whose official acts the Village Treasurer shall be responsible.

(b) The Village Treasurer shall have all the authority, duties, and responsibilities that are conferred upon the office of town treasurer by the general law of the State of Vermont.

(c) With the approval of the Board of Trustees, and consistent with duly adopted investment policies, the Village Treasurer shall invest Village funds or place them in interest-bearing accounts that are suitable and proper for municipal funds to be safeguarded and kept. These funds may be drawn upon by the Village Treasurer or assistant Village treasurer, upon orders approved by the Board of Trustees.

(d) The Village and the Board of Trustees may establish special funds from time to time which may be pooled for investment purposes by the Village Treasurer who shall keep separate accounting for each fund. Interest and other gains and losses accruing to the account shall be credited to each component special fund based on the reconciled average balance of the individual components, proportionalized as necessary.