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: 30 V.S.A. § 3077)
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§ 3077. Pledge of revenues
(a) When the board, at a regular or special meeting called for such purpose, determines
by resolution passed by a vote of a majority of members present and voting that the
public interest or necessity demands communications plant improvements, or a long-term
contract, and that the cost of the same will be too great to be paid out of the ordinary
annual income and revenue of the district, the board may pledge communications plant
net revenues and enter into long-term contracts to provide for such improvements.
A “long-term contract” means an agreement in which the district incurs direct or conditional
obligations for which the costs are too great to be paid out of the ordinary annual
income and revenues of the district, in the judgment of the board. It includes an
agreement authorized under 24 V.S.A. § 1789, wherein performance by the district is conditioned upon periodic appropriations.
The term “communications plant improvements” includes improvements that may be used
for the benefit of the public, whether or not publicly owned or operated.
(b) The pledge of communications plant net revenues, and other obligations allowed by
law, may be authorized for any purpose permitted by this chapter, 24 V.S.A. chapter
53, subchapter 2, and chapter 54, or any other applicable statutes. A communications
plant is declared to be a project within the meaning of 24 V.S.A. § 1821(4). (Added 2015, No. 41, § 20, eff. June 1, 2015.)