Vermont § 610a - Authorization of indebtedness
Full text of Vermont Vermont Statutes Online § 610a — Authorization of indebtedness, with citation guidance and answers to common questions.
§ 610a. Authorization of indebtedness
- (a) A municipality owning and operating a municipal plant and conducting itself as a utility
pursuant to chapter 79 of this title, when authorized as provided in 24 V.S.A. chapter 53, subchapters 1 and 2 or municipal charter, may pledge its credit or the net revenues
of its municipal plant by issuing negotiable orders, warrants, notes, or bonds for
the acquisition of equity ownership in Vermont Transco LLC or Vermont Electric Power
Company or both pursuant to subsection 604(e) of this title. In addition, an acquisition of equity ownership may be effected through any instrument
permitted under 24 V.S.A. § 1789. Acquisition costs may include all costs, whether incurred prior to or after the
issue of bonds or notes relating to the acquisition of equity ownership under this
chapter. Acquisition of equity ownership is an improvement as defined in 24 V.S.A. § 1751(3). (b) The obligations shall be issued in accordance with 24 V.S.A. chapter 53 or municipal charter. The amount of obligations issued for such purpose shall not
be considered in computing any debt limit applicable to the municipality. (c) Any contract entered into and any debt obligation issued under this section for any
purpose pursuant to this chapter shall have been issued for an essential government
purpose and shall not be deemed to be a pledge of private credit for public benefit
nor a delegation of municipal authority, responsibility, or discretion. (Added 2007, No. 83 (Adj. Sess.), § 1, eff. Jan. 28, 2008.)
Frequently Asked Questions About Vermont § 610a
What does Vermont Statutes Online § 610a cover?
Section 610a ("Authorization of indebtedness") 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 § 610a?
A common citation format is "Vermont Statutes Online § 610a" (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 § 610a 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.