Vermont § 280m - Loan and lease terms
Full text of Vermont Vermont Statutes Online § 280m — Loan and lease terms, with citation guidance and answers to common questions.
§ 280m. Loan and lease terms
- (a) The Board shall determine the form and content of any borrower obligation, including
the term and rate or rates of interest on any loan or lease. (b) Notwithstanding subsection (a) of this section, loans and leases financed through
the application of federal monies pursuant to 23 U.S.C. § 129 or section 350 of the NHS Act shall: (1) bear interest at or below market rates or otherwise as may be specified therein; (2) have a repayment term of not longer than 30 years; (3) be subject to repayment commencing not later than five years after the facility financed
with the proceeds of such loan has been completed or, in the case of a highway project,
the facility has opened to traffic; and (4) be made only after all federal environmental requirements applicable to the qualified
project have been complied with and all federal environmental permits obtained. (c) Notwithstanding any provisions of this subchapter to the contrary, the Secretary may
waive any of the requirements contained in this section if such waiver would not cause
the loan or the Program to violate the requirements of ISTEA or the NHS Act or any
other applicable federal requirement. (Added 1997, No. 43, § 1.)
Frequently Asked Questions About Vermont § 280m
What does Vermont Statutes Online § 280m cover?
Section 280m ("Loan and lease terms") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 280m?
A common citation format is "Vermont Statutes Online § 280m" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 280m apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.