Vermont Statutes Title 30 Sec. 605
Terms Used In Vermont Statutes Title 30 Sec. 605
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
- Village: shall mean an incorporated village. See
§ 605. Contracts
Contracts under section 604 of this title may be for a term or for an indefinite period; may provide for the sale or other disposition of byproducts of electric power facilities; and may contain provisions for arbitration, delegation, and other matters deemed necessary or desirable to carry out their purposes. Any party, public or private, desiring to purchase or use byproducts of electric power facilities financed, constructed, or operated under this chapter may enter into contracts therefor for short or long terms. The obligation of the city, village, and town under contracts referred to in this section shall not be included in the debt of the city, village, and town for the purpose of ascertaining its borrowing capacity. (Added 1973, No. 167 (Adj. Sess.), eff. March 25, 1974; amended 1977, No. 278 (Adj. Sess.), § 3, eff. Feb. 9, 1978; 2003, No. 121 (Adj. Sess.), § 96, eff. June 8, 2004.)