Vermont Statutes Title 24 Sec. 4592
Terms Used In Vermont Statutes Title 24 Sec. 4592
- Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bank: means the Vermont Bond Bank established by section 4571 of this title. See
- Bonds: means bonds of the Bank issued under this chapter. See
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Governmental unit: means any county, municipality, or public body. See
- Issue: when used in reference to bonds or notes, means the physical delivery thereof or the effectuation thereof in book entry form, in each case against payment therefor. See
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Notes: means any notes of the Bank issued under this chapter. See
- Reserve Fund: means the Vermont Bond Bank Reserve fund established under section 4671 of this title. See
- Revenue bond: means a bond or note or evidence of debt constituting an obligation or financing arrangement of a governmental unit authorized under laws of the State and payable solely from revenues derived from the financed asset, enterprise funds, or other specified revenues and the earnings thereon. See
- Subpoena: A command to a witness to appear and give testimony.
- Summons: Another word for subpoena used by the criminal justice system.
- sworn: shall include affirmed. See
- Testify: Answer questions in court.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
§ 4592. Supplementary powers
The Bank, in addition to any other powers granted in this chapter, has the following powers:
(1) In connection with any loan to a governmental unit, to consider the need, desirability, or eligibility of the loan, the ability of the governmental unit to secure borrowed money from other sources and the costs thereof, and the particular public improvement or purpose to be financed by the municipal bonds or revenue bonds to be purchased by the Bank.
(2) To charge for its costs and services in review or consideration of any proposed loan to a governmental unit or purchase of municipal bonds or revenue bonds of a governmental unit, and to charge therefor whether or not the loan is made or the municipal bonds or revenue bonds are purchased.
(3) To establish any terms and provisions with respect to any loan to governmental units through the purchase of municipal bonds or revenue bonds by the Bank, including date and maturities of the bonds, provisions as to redemption or payment prior to maturity, and any other matters that are necessary, desirable, or advisable in the judgment of the Bank.
(4) To conduct examinations and hearings and to hear testimony and take proof, under oath or affirmation, at public or private hearings, on any matter material for its information and necessary to carry out this chapter.
(5) To issue subpoenas requiring the attendance of witnesses and the production of books and papers pertinent to any hearing before the Bank, or before one or more of the directors of the Bank appointed by it to conduct the hearing.
(6) To apply to any court, having territorial jurisdiction of the offense, to have punished for contempt any witness who refuses to obey a subpoena, or who refuses to be sworn or affirmed to testify, or who is guilty of any contempt after summons to appear.
(7) To procure insurance against any losses in connection with its property, operations, or assets in such amounts and from such insurers as it deems desirable.
(8) To the extent permitted under its contracts with the holders of bonds or notes of the Bank, to consent to any modification of the rate of interest, time, and payment of any installment of principal or interest, security, or any other term of bond or note, contract, or agreement of any kind to which the Bank is a party.
(9) To issue its bonds or notes that are secured by neither the Reserve Fund nor the Revenue Bond Reserve Fund, but which may be secured by such other funds and accounts as may be authorized by the Bank from time to time.
(10) To issue bonds, other forms of indebtedness, or other financing obligations or arrangements for projects relating to renewable energy, energy efficiency, climate adaptation, and projects that otherwise result in the reduction of greenhouse gas emissions. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; amended 1987, No. 55, §§ 10, 11, eff. May 15, 1987; 2009, No. 45, § 15k, eff. May 27, 2009; 2023, No. 72, § 27, eff. June 19, 2023.)