Vermont § 280o - Issuance of revenue bonds

§ 280o. Issuance of revenue bonds

• (a) The Authority may issue bonds to finance or refinance any cost of a qualified project
  or provide other financial assistance, the proceeds of which are to be deposited in
  the Program, or used to refinance existing obligations (whether obligations of the
  Authority or another entity), used to fund the cost of a qualified project. (b) Such bonds shall be special revenue bonds of the State payable solely from revenues,
  credited to the Program. (c) Notwithstanding the provisions of any law to the contrary, such bonds shall not be
  general obligations of the State. (d) Bonds may be issued provided that such issuance meets the requirements of section
  244 and subsections 254(b), (c), (d), (f), and (g) of this title. (e) Sections 250, 252, and subsections 253(b), (c), and (d) of this title shall also apply
  to bonds issued under this subchapter, except that any reference to industrial facilities
  therein shall also apply to eligible projects under this subchapter. (f) Bonds may be secured by a trust agreement entered into by the Authority, which trust
  agreement may pledge or assign, in whole or in part, any loan agreements or governmental
  obligations, and all or any part of the monies credited to the Program, subject to
  applicable federal requirements, and any funds or accounts established under a trust
  agreement, any contract or other rights to receive the same, whether then existing
  or coming into existence and whether then held or thereafter acquired, and the proceeds
  thereof. (Added 1997, No. 43, § 1.)