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
003
:
PRIVATE LOANS FOR PRIVATELY OWNED PUBLIC WATER SYSTEMS
(Cite as: 24 V.S.A. § 4772)
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§ 4772. Qualifications for eligibility; certification
No loan to an applicant shall be made under this subchapter until:
(1) The applicant has certified to VEDA that:
(A) all State and federal permits and licenses, including land use, subdivision, water
supply and wastewater permits, and water supply construction and operating permits,
necessary to undertake the project for which financing has been sought will be obtained
prior to expending construction funds under the loan;
(B) the applicant has established a rate charge or assessment schedule that will generate
sufficient revenue to pay the principal and interest on the loan and to pay reasonably
anticipated costs of operating and maintaining the financed project and the system
of which it is a part. VEDA may require that the rate charge or assessment schedule
be approved by VEDA prior to approving a loan. Nothing in this subchapter shall affect
the obligation of an applicant who is subject to the jurisdiction of the Public Utility
Commission under 30 V.S.A. §§ 102 and 203(3) to obtain prior approval of a rate change from such Commission pursuant to 30 V.S.A. § 225;
(C) if the applicant is subject to the jurisdiction of the Public Utility Commission under
30 V.S.A. §§ 102 and 203(3), it has obtained the following approvals and has provided VEDA with copies of those
approvals:
(i) the certificate of public good issued by the Public Utility Commission pursuant to
30 V.S.A. §§ 231 (public good) and 108 approving the loan; and
(ii) the decision and order of the Public Utility Commission approving rates that are to
be charged by the applicant.
(2) The Secretary has certified to VEDA that:
(A) the applicant and the project qualify for financing or assistance under section 4773 of this title and that the project has priority for receipt of financial assistance; and
(B) the applicant has or as a result of the proposed project will have the technical,
managerial, and financial capability to ensure compliance with the requirements of
the federal Safe Drinking Water Act as amended. (Added 1997, No. 62, § 75, eff. June 26, 1997; amended 1997, No. 134 (Adj. Sess.), § 5.)