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
009
:
RELATED LAWS
(Cite as: 24 App. V.S.A. ch. 3, § 422)
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§ 422. Rates sufficient to pay for services and bonds to be charged
(a) Whenever bonds are issued pursuant to this article, said City shall charge and collect
adequate rates and charges for electric energy and for gas and all other services,
facilities, and commodities sold, furnished, or supplied by the electric plant and
system and gas plants and system sufficient to provide for the proper operation and
maintenance of said systems and for the payment of the principal of and interest on
all indebtedness payable from said revenues, and all other payments in connection
therewith. All such revenues shall be paid into the City Treasury in a special fund
to be called the “Light Department Fund,” and shall be subject to the covenants contained
in any ordinance or resolution authorizing the issuance of bonds under this article.
(b) In no case shall funds collected from electric ratepayers be used to cross-subsidize
or finance the repayment of any debt instrument used to fund the construction, operation,
or utilization of any new cable television, fiber optic cable, or other telecommunications
network or telecommunications business, and the expenses from such enterprises may
not be included in the cost of electric service, except to the extent that the City
has utilized such funds directly for its own utility plant or electric services. (Amended 1999, No. M-14 (Adj. Sess.), § 5a.)