§ 1821. Definitions
When used in this subchapter:
(1) “Bond” means any bond or note issued by the municipal corporation and payable out
of the net revenues from the operation of a public utility project.
(2) “Cost of operation and maintenance” shall mean the expenses for operation, maintenance,
repairs, and ordinary replacements properly and directly attributable to the operation
or ordinary maintenance of the public utility project.
(3) “Net revenues” shall mean revenues less cost of operation and maintenance.
(4) “Project” shall mean an undertaking for the acquisition, construction, reconstruction,
improvement, financing, enlargement, extension, or betterment of any of the following
public utility systems:
(A) Water systems or facilities as defined in chapter 89 of this title.
(B) Sewage disposal systems or facilities as defined in chapter 97 or 101 of this title.
(C) Systems or facilities for the generation, production, transmission, or distribution
of gas (natural, artificial, or mixed) for lighting, heating, or power for public
and private uses, as provided in 30 V.S.A. chapter 79 or by charter or special act.
(D) Systems or facilities for the generation, production, transmission, or distribution
of electric energy, including the ownership, operation, and management of a municipal
plant as defined in 30 V.S.A. § 2901 and other generation, production, transmission, and distribution facilities located
within and without the State.
(E) Systems, facilities, and equipment for the collection, treatment, or disposal of solid
waste, including sanitary landfills, and the generation, transmission, distribution,
and sale of all products and forms of energy derived therefrom.
(5) “Revenues” mean all revenues, rates, fees, charges, rents, or other income and receipts
received by the municipal corporation from any source, or accrued to the municipal
corporation, or any department, board, or agency thereof, in connection with the management
and operation of a public utility project or system, and shall also include any interest
received on any monies or securities of the municipal corporation which are pledged
to the payment of the municipal corporation’s bonds, and any federal or State grants-in-aid
with respect to such project or system. (Amended 1989, No. 111, § 5, eff. June 22, 1989.)