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Searching 2017-2018 Session

The Vermont Statutes Online

Title 24 : Municipal and County Government

Chapter 119 : MUNICIPAL BOND BANK

Subchapter 007 : PROTECTION OF BOND AND NOTEHOLDERS

(Cite as: 24 V.S.A. § 4709)
  • § 4709. Federal insurance or guaranty

    The bank may obtain from any department or agency of the United States of America any available insurance or guaranty for the payment or repayment of interest or principal, or both, or any part thereof, on any bonds or notes issued by the bank, or on any municipal bonds or revenue bonds of governmental units purchased or held by the bank, and notwithstanding any other provisions of this chapter may enter into any agreement or contract with respect to any insurance or guaranty except to the extent that it would in any way impair or interfere with the ability of the bank to perform and fulfill the terms of any agreement made with the holders of the bonds or notes of the bank. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; amended 1971, No. 148 (Adj. Sess.), § 2, eff. Feb. 14, 1972; 1987, No. 55, § 32, eff. May 15, 1987.)