Vt. Stat. tit. 10 § 730
Upon issuance of a certificate of dissolution under the provisions of this chapter, all ordinances and rules previously adopted and in force within such districts shall be of no further force and effect. All contracts previously entered into, to which the district or supervisors are parties, shall remain in force and effect for the period provided in such contracts. The State Natural Resources Conservation Council shall have the right to be substituted for the district or supervisors as party to such contracts and, if it elects, the Council shall be entitled to all benefits and subject to all liabilities under such contracts and shall have the same right and liability to perform, to require performance, to sue and be sued thereon, and to modify or terminate such contracts by mutual consent or otherwise, as the supervisors of the district would have had. Such dissolution shall not affect the lien of any judgment entered under the provisions of this chapter, nor the pendency of any action instituted under the provisions of this chapter, and the Council shall succeed to all the rights and obligations of the district or supervisors as to such liens and actions.
10 V.S.A. § 730