The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 30 : Public Service
Chapter 084 : Vermont Public Power Supply Authority
Subchapter 003 : Form and Nature of Bonds and Notes
(Cite as: 30 V.S.A. § 5036)-
§ 5036. Credit of State and members of Authority not pledged
Obligations issued under the provisions of this chapter shall not be deemed to constitute a debt or liability or obligation of the State or of any political subdivision of it or of any member of the Authority, nor shall it be deemed to constitute a pledge of the faith and credit of the State or of any political subdivision or of any member of the Authority, but shall be payable solely from the revenues or assets of the Authority. Each obligation issued by the Authority shall contain on its face a statement to the effect that the Authority shall not be obligated to pay the same nor the interest on it except from the revenues or assets pledged for those purposes and that neither the faith and credit nor the taxing power of the State or of any political subdivision of it or of any member of the Authority is pledged to the payment of the principal of or the interest on these obligations. (Added 1979, No. 78, § 3.)
