(a) This chapter may be amended by petition of five percent of the voters (certified by each Town Clerk) of the District under subchapter 5 of this chapter or by the Board of Supervisors under this section. The Board of Supervisors at any regular or special meeting of the Board of Supervisors may, by a majority vote, adopt a resolution stating its intent to amend the chapter. A written copy of the resolution, stating the wording and purpose of the amendment and the date of the meeting scheduled to act on the amendment, shall be delivered to the legislative branches of each member municipality and mailed or left at the usual place of residence of each member of the Board of Supervisors, by the Clerk of the District at least ten business days prior to the meeting scheduled to adopt the amendment. The amendment may be adopted by a vote of members present and representing two-thirds of all the votes entitled to be cast at a regular meeting or a special meeting called for that purpose of the Board of Supervisors, unless two-thirds of legal voters of the legislative branches of the member municipalities request, in writing, the Board of Supervisors hold a special District meeting to vote on the amendment.

(b) If the amendment is adopted by the Board of Supervisors or by the voters of the District, the Clerk of the District, within 10 business days after the vote of adoption, shall certify to the Secretary of State each proposal of amendment showing the facts as to its origin and the procedure followed. The Secretary of State shall then proceed as with municipal charter amendments under 17 V.S.A. § 2645. The amendment shall become effective upon affirmative enactment of the proposal, either as proposed or as amended by the General Assembly. Section 53 of this chapter, relating to reconsideration and rescission of vote, shall apply to an amendment adopted by a vote of the Board or the voters under this section.

(c) This chapter may be amended in the manner provided in this chapter, but no such amendment shall be made which shall substantially impair the rights of the holders of any bonds or other notes or other evidence of indebtedness or substantially affect any obligations under long-term contracts of the District then outstanding or in effect, or the rights of the District to procure the means for payment, continuation, or termination thereof. (Amended 2011, No. M-17 (Adj. Sess.), § 2, eff. July 12, 2012.)