Vermont Statutes Title 24 Sec. 4682
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Terms Used In Vermont Statutes Title 24 Sec. 4682
- Bank: means the Vermont Bond Bank established by section 4571 of this title. 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
- Revenue Bond Reserve Fund: means the Vermont Bond Bank Revenue Bond Reserve Fund established under section 4681 of this title. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 4682. Investment of Revenue Bond Reserve Fund
(a) Monies at any time in the Revenue Bond Reserve Fund may be invested in the same manner as permitted for investment of funds belonging to the State or held in the Treasury.
(b) For purposes of valuation, investments in the Revenue Bond Reserve Fund shall be valued at the lowest of the par value, cost to the Bank or market value of such investments. Valuation on any particular date shall include the amount of interest then earned or accrued to that date on any monies or investments in the Revenue Bond Reserve Fund. (Added 1987, No. 55, § 26, eff. May 15, 1987.)