The Vermont Statutes Online
The Statutes below include the actions of the 2024 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 24 : Municipal and County Government
Chapter 119 : Vermont Bond Bank
Subchapter 001 : GENERAL PROVISIONS
(Cite as: 24 V.S.A. § 4551)-
§ 4551. Definitions
As used in this chapter:
(1) “Bank” means the Vermont Bond Bank established by section 4571 of this title.
(2) “Bonds” means bonds of the Bank issued under this chapter.
(3) “County” means any county of the State.
(4) “General Fund” means the fund established under section 4676 of this title.
(5) “Governmental unit” means any county, municipality, or public body.
(6) “Issue,” when used in reference to bonds or notes, means the physical delivery thereof or the effectuation thereof in book entry form, in each case against payment therefor.
(7) “Municipal bond” means a bond or note or evidence of debt or financing arrangement of a governmental unit, including a bond, note, or evidence of debt, constituting a general obligation of a governmental unit, but does not include any bond or note or evidence of debt issued by any other state or any public body or municipal corporation thereof.
(8) “Municipality” means any city, town, village, town school district, incorporated school district, union school district, or other school district, fire district, consolidated sewer district, consolidated water district, or solid waste district organized under the laws of the State, and also includes every municipal corporation identified in subdivision 1751(1) of this title.
(9) “Notes” means any notes of the Bank issued under this chapter.
(10) “Public body” means any public body corporate and politic or any political subdivision of the State established under any law of the State.
(11) “Reserve Fund” means the Vermont Bond Bank Reserve fund established under section 4671 of this title.
(12) “Revenues” means all fees, charges, monies, profits, payments of principal of or interest on municipal bonds and revenue bonds and other investments, gifts, grants, contributions, appropriations, and all other income derived or to be derived by the Bank under this chapter.
(13) “Revenue bond” means a bond or note or evidence of debt constituting an obligation or financing arrangement of a governmental unit authorized under laws of the State and payable solely from revenues derived from the financed asset, enterprise funds, or other specified revenues and the earnings thereon.
(14) “Revenue Bond Reserve Fund” means the Vermont Bond Bank Revenue Bond Reserve Fund established under section 4681 of this title.
(15) “Revenue Fund” means the Vermont Bond Bank Revenue Fund established under section 4683 of this title. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; amended 1971, No. 148 (Adj. Sess.), § 4, Feb. 14, 1972; 1983, No. 12, § 1, eff. March 29, 1983; 1985, No. 127 (Adj. Sess.), § 1, eff. April 21, 1986; 1987, No. 55, §§ 1-4, eff. May 15, 1987; 1987, No. 75, § 3; 1989, No. 111, § 4, eff. June 22, 1989; 2023, No. 72, § 24, eff. June 19, 2023.)
