Vermont § 1818 - Finance of start-up and regular costs

§ 1818. Finance of start-up and regular costs

• (a) To provide for its start-up costs, the Commission may borrow money pursuant to its
  general power under section 1806 of this compact, subdivision (d)(4). In order to
  finance the costs of administration and enforcement of this compact, including payback
  of start-up costs, the Commission is hereby empowered to collect an assessment from
  each handler who purchases milk from producers within the region. If imposed, this
  assessment shall be collected on a monthly basis for up to one year from the date
  the Commission convenes, in an amount not to exceed one-tenth of one percent of the
  applicable federal market order blend price per hundredweight of milk purchased from
  producers during the period of the assessment. The initial assessment may apply to
  the projected purchases of handlers for the two-month period following the date the
  Commission convenes. In addition, if regulations establishing an over-order price
  or a compact marketing order are adopted, they may include an assessment for the specific
  purpose of their administration. These regulations shall provide for establishment
  of a reserve for the Commission’s ongoing operating expenses. (b) The Commission shall not pledge the credit of any participating state or of the United
  States. Notes issued by the Commission and all other financial obligations incurred
  by it, shall be its sole responsibility and no participating state or the United States
  shall be liable therefor. (Added 1993, No. 57, § 1, eff. June 3, 1993.)