Vermont § 5016 - Rules and rates

§ 5016. Rules and rates

• (a) The Authority may make and enforce rules that it deems necessary or desirable. It
  may establish, levy, and collect or may authorize by contract, franchise, lease, or
  otherwise, the establishment, levying, and collection of rents, rates, and other charges: (1) for the services afforded by the Authority or afforded by or in connection with any
  project or properties that it may construct, erect, acquire, own, operate, or control,
  or with respect to that it may have any interest or any right to capacity thereof;
  and (2) for the sale of electric energy or of generation or transmission capacity or service
  as it may deem necessary, proper, desirable, and reasonable. (b) Rents, rates, and other charges shall be at least sufficient to meet the expenses
  of the Authority, including operating and maintenance expenses, reasonable reserves,
  interest, and principal payments, including payments into one or more sinking funds
  for the retirement of principal, and other requirements of any trust agreement or
  resolution securing bonds or notes. The Authority may pledge its rates, rents, and
  other revenues, or any part of them, as security for the repayment, with interest
  and redemption premiums, if any, of any monies borrowed by it or advanced to it for
  any of its authorized purposes and as security for the payment of amounts due and
  owing by it under any contract. (Added 1979, No. 78, § 3; amended 2023, No. 85 (Adj. Sess.), § 451, eff. July 1, 2024.)