The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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.
Title 30 : Public Service
Chapter 084 : Vermont Public Power Supply Authority
Subchapter 003 : Form and Nature of Bonds and Notes
(Cite as: 30 V.S.A. § 5035)-
§ 5035. Pledge of the State
The State does hereby pledge to and agree with the holders of the notes and bonds issued under this chapter that the State will not limit or restrict the rights hereby vested in the Authority to perform its obligations and to fulfill the terms of any agreement made with the holders of its bonds or notes. Neither will the State in any way impair the rights and remedies of the holders until the notes and bonds, together with interest on them, and interest on any unpaid installments of interest, are fully met, paid, and discharged. The Authority is authorized to execute this pledge and agreement of the State in any agreement with the holders of the notes or bonds. (Added 1979, No. 78, § 3.)
