Vt. Stat. tit. 24A § 261-32
Said Village may, at any legally warned meeting, authorize said trustees to lease, dispose of, or sell upon terms fixed by said meeting, to any person, partnership, or body corporate or other company, any part or all of the rights and privileges granted by this charter to said Village, and any property acquired thereunder, to have and to hold the same for the purpose of supplying the inhabitants of said Village with water for fire, domestic, and other purposes; and said person, partnership, body corporate, or company, and their assigns upon such lease, disposal, or sale, shall for said purpose only succeed to the rights, privileges, and property so leased, disposed of, or sold, subject to all the conditions herein named, but the Board of Trustees herein provided for shall be continued for carrying out and completing any proceedings under this charter hereafter needed.
24 Appendix V.S.A. § 261-32