Vermont § 631 - Bonds and notes

§ 631. Bonds and notes

• (a)(1) The Agency may issue its negotiable notes and bonds in such principal amount as the
  Agency determines to be necessary to provide sufficient funds for achieving any of
  its corporate purposes, including the payment of interest on notes and bonds of the
  Agency, establishment of reserves to secure the notes and bonds including the reserve
  funds created under section 632 of this title, and all other expenditures of the Agency incident to and necessary or convenient
  to carry out its corporate purposes and powers. (2) The Agency shall have the power, from time to time, to issue notes to renew notes
  and bonds to pay notes, including the interest thereon and, whenever it deems refunding
  expedient, to refund any bonds by the issuance of new bonds, whether the bonds to
  be refunded have or have not matured, and to issue bonds partly to refund bonds then
  outstanding and partly for any of its corporate purposes. (3) Except as may otherwise be expressly provided by resolution of the Agency, every issue
  of its notes and bonds shall be general obligations of the Agency payable out of any
  revenues or monies of the Agency, subject only to any agreements with the holders
  of particular notes or bonds pledging any particular revenues.