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.
Subchapter
005
:
SALE AND ISSUANCE OF BONDS AND NOTES
(Cite as: 24 V.S.A. § 4643)
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§ 4643. Form of issuance
(a) Bonds or notes of the Bank shall be authorized by resolution of the Bank and may be
issued in one or more series and shall bear such date or dates, mature at such time
or times, bear interest at such rate or rates of interest per annum or within such
maximum rate, be in such denomination or denominations, be issued in coupon form payable
to bearer, in registered form or in book entry form, carry such conversion or registration
privileges, have such rank or priority, be executed in such manner, be payable from
such sources in such medium of payment at such place or places within or without the
State, and be subject to such terms of redemption, with or without premium, as the
resolution provides.
(b) The State Treasurer may, at the direction of the Bank, act as transfer agent or registrar
for the exchange or transfer of registered bonds and notes or maintain records so
that bonds and notes in book entry form may be effected and the Bank may contract
with or otherwise designate a bank, trust company, or other person to maintain records
so that bonds and notes in book entry form may be effected. Such bank, trust company,
or other person, which may include the federal government or any of its agencies or
instrumentalities or any officer, agency, or instrumentality of the State, may be
located or have its principal office inside or outside the State. Bonds and notes
in book entry form shall be effected by means of entries on the records of the State
Treasurer or other designated person that shall reflect the description of the issue,
the principal amount, the interest rate, the maturity date, and the owner of the bonds
or notes and such other information as is deemed appropriate. The State Treasurer
or other designated person may effect conversion between book entry bonds and notes
and registered bonds and notes for owners of bonds or notes who request such a change.
The State Treasurer or other designated transfer agent or registrar shall issue a
confirmation of the transaction in the form of a written advice.
(c) [Repealed.] (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; amended 1983. No. 12, § 4, eff. March 29, 1983; 2015, No. 29, § 15.)