Vermont § 609 - Village of Lyndonville

§ 609. Village of Lyndonville

• (a) The Village of Lyndonville, when authorized as provided in 24 V.S.A. chapter 53, may pledge its credit by issuing its negotiable orders, warrants, notes, or bonds
  for project costs, or its share of project costs, of electric power facilities authorized
  pursuant to section 604 of this title. The project costs may include all costs, whether incurred prior to or after the
  issue of bonds or notes of acquisition, site development, construction, improvement,
  enlargement, reconstruction, alteration, machinery, equipment, furnishings, nuclear
  fuel, demolition or removal of existing buildings or structures, including the cost
  of acquiring any lands to which such buildings or structures may be moved, financing
  charges, interest prior to and during the carrying out of any project and for a reasonable
  period thereafter, planning, engineering, financial advisory and legal services, administrative
  expenses, prepayments under contracts made pursuant to section 604 of this title, the funding of notes issued for project costs as provided in this section, and all
  other expenses incidental to the determination of the feasibility of any project or
  to carrying out the project or to placing the project in operation. (b) The obligations shall be issued in accordance with 24 V.S.A. chapter 53 and the charter of the Village of Lyndonville relating to said obligations. The
  amount of obligations issued for such purpose shall not be considered in computing
  any debt limit applicable to the Village. (c) The May 3, 1977 vote of the voters of the Village of Lyndonville authorizing and empowering
  the Village of Lyndonville Board of Trustees to pledge the credit of the Village by
  issuing general obligation bonds or notes in an amount not to exceed $3,800,000.00
  for the purpose of acquiring joint ownership interests in four power plants presently
  designated as the Connecticut 1979 Nuclear Unit, Pilgrim No. 2, and Wyman Unit No.
  4 and MMWEC Phase I Intermediate Units and located in the states of Connecticut, Maine,
  and Massachusetts is hereby ratified, adopted, and validated in all respects. In addition,
  any action authorized and taken during the calendar year that commenced January 1,
  1977 shall be valid and effective as if this chapter were in effect on January 1,
  1977. (Added 1977, No. 278 (Adj. Sess.), § 6, eff. Feb. 9, 1978; amended 2023, No. 85 (Adj. Sess.), § 393, eff. July 1, 2024.)