Vermont Statutes Title 24 Sec. 1825
Terms Used In Vermont Statutes Title 24 Sec. 1825
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Municipal corporation: shall include a city, town, village, town school district, graded school district, or other incorporated, union, or unified school district or any entity providing educational services which is eligible to receive State aid under 16 Vt. See
§ 1825. Construction
Nothing contained in this subchapter shall be so construed as authorizing the establishment or operation of a public utility. The provisions of this subchapter shall apply only to a public utility authorized by a special act or under the general law. Bonds may be issued hereunder for public utility projects of the municipal corporation notwithstanding that any other law may provide for the issuance of bonds for like purposes. This subchapter is remedial in nature and the powers hereby granted shall be liberally construed to effectuate the purposes hereof, and to this end the municipal corporation shall have powers necessary and prudent to carry out the purposes hereof in addition to the powers expressly conferred in this subchapter. (Amended 1989, No. 111, § 9, eff. June 22, 1989.)