Vermont § 4014 - Bonds, issuance of
Full text of Vermont Vermont Statutes Online § 4014 — Bonds, issuance of, with citation guidance and answers to common questions.
§ 4014. Bonds, issuance of
- (a) An authority shall have power to issue bonds from time to time in its discretion,
for any of its corporate purposes. An authority shall also have power to issue refunding
bonds for the purpose of paying or retiring bonds issued previously by it. (b) Neither the commissioners of an authority nor any person executing the bonds shall
be liable personally on the bonds by reason of the issuance thereof. The bonds and
other obligations of an authority, and such bonds and obligations shall so state on
their face, shall not be a debt of the municipality, the State, or any political subdivision
thereof and neither the municipality, nor the State or any political subdivision thereof
shall be liable thereon. Nor in any event shall such bonds or obligations be payable
out of any funds or properties other than those of said authority. Bonds shall not
constitute an indebtedness within the meaning of any debt limitation or any restriction.
Bonds of an authority are declared to be issued for an essential public and governmental
purpose and to be public instrumentalities and together with interest thereon and
income therefrom, shall be exempt from taxes. (1961, No. 212, § 14, eff. July 11, 1961.)
Frequently Asked Questions About Vermont § 4014
What does Vermont Statutes Online § 4014 cover?
Section 4014 ("Bonds, issuance of") 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 § 4014?
A common citation format is "Vermont Statutes Online § 4014" (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 § 4014 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.