§ 280v. Termination of the Program; remaining assets and liabilities
The Program shall continue until terminated by law; provided, however, that no such law shall take effect so long as there shall be outstanding bonds secured by the fund unless adequate provision has been made for the payment or satisfaction thereof. Upon termination of the Program, assets that remain after provision for the payment or satisfaction of all bonds issued pursuant to this subchapter shall vest in the State, in the Transportation Fund and General Fund in equal proportion to the percentages of funds initially invested in the bank. For the purpose of this section only, federal transportation funds invested in the bank shall be considered State transportation funds. (Added 1997, No. 43, § 1.)
Structure Vermont Statutes
Title 10 - Conservation and Development
Chapter 12 - Vermont Economic Development Authority
§ 213. Authority; organization
§ 214. Members; disqualification
§ 216. Authority; general powers
§ 217. Records; annual report; audit
§ 220. Transfer from Indemnification Fund
§ 231. Assistance to local development corporations
§ 232. Issuance of loans for speculative buildings and small business incubator facilities
§ 237. Issuing of loans for industrial park planning and development projects
§ 241. Powers of municipalities
§ 247. Obligations of the municipality
§ 248. Trustees and trust funds
§ 250. Bonds exempt from taxation
§ 251. Taxation of eligible facilities
§ 252. Bonds eligible for investment
§ 263. Mortgage loan; limitations
§ 264. Accelerated repayment provisions
§ 279c. Vermont Export Finance Program
§ 280. Public financing policy
§ 280a. Eligible projects; authorized financing programs
§ 280b. The Vermont sustainable jobs strategy
§ 280e. State Infrastructure Bank Program
§ 280f. Applicability of general provisions
§ 280g. State Infrastructure Bank Program; duties; powers
§ 280h. Receipt and administration of Program funds
§ 280i. Disbursement and use of funds
§ 280j. Powers and duties of the Secretary
§ 280k. Powers and duties of the Program
§ 280l. Applications for financial assistance
§ 280n. Program Fund; accounts
§ 280o. Issuance of revenue bonds
§ 280p. Additional security agreements, insurance, and credit enhancements
§ 280q. Loans to qualified borrowers to finance qualified projects
§ 280r. Powers and privileges of government units
§ 280u. Guarantees; other credit enhancement
§ 280v. Termination of the Program; remaining assets and liabilities
§ 280w. Records of receipts, expenditures, and disbursements
§ 280x. Obligations; credit of the State not pledged
§ 280bb. Vermont Entrepreneurial Lending Program
§ 280cc. Creation; purpose; definitions
§ 280dd. Loan programs administered within the Fund