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.
(Cite as: 29 V.S.A. § 1601)
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§ 1601. Municipal Equipment and Vehicle Loan Fund
(a) There is hereby created the Municipal Equipment and Vehicle Loan Fund for the purpose
of providing loans on favorable terms to municipalities for the purchase of motorized
highway building and maintenance equipment, heavy equipment, and authorized emergency
vehicles as set forth in 23 V.S.A. § 4.
(b) The Municipal Equipment and Vehicle Loan Fund shall be administered by a committee
composed of the State Treasurer and the State Traffic Committee established by 19 V.S.A. § 1(24), pursuant to policies and procedures approved by this Committee with administrative
support from the Office of the State Treasurer. The Committee shall establish criteria
for distribution of available loan funds among municipalities considering at least
financial need, equitable geographic distribution, and ability to repay. The Fund
shall be a revolving fund and all principal and interest earned on loans and the fund
balance remaining in the Fund at the end of any fiscal year shall be available for
use in the succeeding fiscal year. The Committee shall meet upon request of the State
Treasurer to consider applications. (Added 1985, No. 187 (Adj. Sess.), § 3; amended 1987, No. 89, § 314c; 2019, No. 131 (Adj. Sess.), § 289; 2025, No. 27, § E.131.1, eff. July 1, 2025.)