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Searching 2023-2024 Session

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 10 : Conservation and Development

Chapter 012 : Vermont Economic Development Authority

Subchapter 011 : State Infrastructure Bank Program

(Cite as: 10 V.S.A. § 280v)
  • § 280v. Termination of the Program; remaining assets and liabilities

    The Program shall continue until terminated by law; provided, however, that no such law shall take effect so long as there shall be outstanding bonds secured by the fund unless adequate provision has been made for the payment or satisfaction thereof. Upon termination of the Program, assets that remain after provision for the payment or satisfaction of all bonds issued pursuant to this subchapter shall vest in the State, in the Transportation Fund and General Fund in equal proportion to the percentages of funds initially invested in the bank. For the purpose of this section only, federal transportation funds invested in the bank shall be considered State transportation funds. (Added 1997, No. 43, § 1.)