The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
(Cite as: 10 V.S.A. § 7015)
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§ 7015. Construction costs
(a) In lieu of proposing a financing plan for the construction costs to the General Assembly
under subsection 7012(i) of this title, the Authority may solicit offers to purchase or otherwise commit or contract for
disposal capacity in the disposal facility authorized by this chapter. In the solicitation,
the Authority should provide an estimate of the proposed design capacity and the expected
construction costs.
(b) No offer may be accepted unless the terms of all such commitments or contracts, taken
together, provide for the complete prepayment of all construction costs, exhaust the
proposed capacity, contain acceptable terms and conditions, and are otherwise in the
best interests of the State.
(c) The commitments or contracts shall be nontransferable, without approval of the Authority,
shall provide for payment on an equal and pro rata basis for all generators and shall
provide for the right of the Authority to reacquire, at any time, pro rata from all
such commitments or contracts sufficient capacity to meet emergencies or necessary
contingencies.
(d) If the total capacity of all offered commitments or contracts is less than the expected
low-level radioactive waste, or if the commitments or contracts provide less than
all the construction costs, or if the offers are for any other reason unsatisfactory,
then the Authority shall reduce the design capacity of the facility, try to negotiate
terms and conditions that will provide the complete construction costs and carry out
the purposes of this chapter.
(e) The Authority may, for any reason, decide to not accept all offers received under
this section and decide to pursue an alternative method of financing the construction
costs of the disposal facility. If the Authority decides not to accept any such offers,
it shall propose a financing plan to the General Assembly within 90 days or by the
date set out in subdivision 7002(a)(9) of this title, whichever is later. (Added 1989, No. 296 (Adj. Sess.), § 3, eff. June 29, 1990; amended 2019, No. 131 (Adj. Sess.), § 43.)