Vt. Stat. tit. 16 § 3447
The State Treasurer may issue bonds under 32 V.S.A. chapter 13 in such amount as may from time to time be appropriated to assist incorporated school districts, joint contract schools, town school districts, union school districts, regional career technical center school districts, and independent schools meeting education quality standards that serve as the public high school for one or more towns or cities, or combination thereof, and that both receive their principal support from public funds and are conducted within the State under the authority and supervision of a board of trustees, not less than two-thirds of whose membership is appointed by the selectboard of a town or by the city council of a city or in part by such selectboard and the remaining part by such council under the conditions and for the purpose set forth in sections 3447-3456 of this title. A city shall be deemed to be an incorporated school district within the meaning of sections 3447-3456 of this title.
16 V.S.A. § 3447