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. § 4647)
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§ 4647. Payment or refunding of notes
The Bank may from time to time issue its notes under this chapter and pay and retire
or fund or refund the notes from proceeds of bonds or of other notes, or from any
other funds or monies of the Bank available for that purpose in accordance with any
contract between the Bank and the holders of the notes. Unless provided otherwise
in any contract between the Bank and the holders of notes, and unless the notes are
otherwise paid, funded, or refunded, the proceeds of any bonds of the Bank issued
among other things, to fund any outstanding notes, shall be held, used, and applied
by the Bank to the payment and retirement of the principal of the notes and the interest
due and payable thereon. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970.)