Vermont § 442 - Bonds; proceeds All monies received from the issue of bonds (other than refunding bonds) shall be used solely to defray the cost of improving the electric plant of the City

§ 442. Bonds; proceeds All monies received from the issue of bonds (other than refunding bonds) shall be used solely to defray the cost of improving the electric plant of the City

• . The cost
  of improving the electric plant shall include all cost of acquisition, or improvement,
  including all preliminary expenses, the cost of acquiring all property, franchises,
  easements, and rights necessary or convenient therefor, engineering and legal expenses,
  expenses for estimates of costs and revenues, expenses for plans, specifications,
  and surveys, other expenses incident or necessary to determining the feasibility or
  practicability of the enterprise, administrative expense, interest prior to and during
  the carrying out of any project and for a reasonable period thereafter, such reserves
  for debt service or other capital or current expenses as may be required by the ordinance
  or resolution under which the bonds are issued, and such other expenses as may be
  incurred in the financing herein authorized, the acquisition or improvement of the
  electric plant, the placing of such plant in operation, including the creation of
  a cash working fund, and the performance of the things herein required or permitted
  in connection therewith.