Vermont Statutes
Chapter 119 - Municipal Bond Bank
§ 4642. Amount and purpose; general obligation

§ 4642. Amount and purpose; general obligation
(a) The Bank may issue its bonds or notes in such principal amounts as it shall deem necessary to provide funds for any purposes under this chapter, including:
(1) The making of loans;
(2) The payment, funding or refunding of the principal of, or interest or redemption premiums on, any bonds or notes issued by it whether the bonds or notes or interest to be funded or refunded have or have not become due;
(3) The establishment or increase of reserves to secure or to pay bonds or notes or interest thereon and all other costs or expenses of the Bank incident to and necessary or convenient to carry out its corporate purposes and powers.
(b) Except as otherwise provided in this chapter or by the Bank, every issue of bonds or notes shall be general obligations payable out of any revenues or funds of the Bank, subject only to any agreements with the holders of particular bonds or notes pledging any particular revenues or funds. Any bonds or notes may be additionally secured by a pledge of any grant or contributions from the United States of America or the State or any governmental unit or any person, firm, or corporation or a pledge of any income or revenues, funds, or monies of the Bank from any source whatsoever. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970.)

Structure Vermont Statutes

Vermont Statutes

Title 24 - Municipal and County Government

Chapter 119 - Municipal Bond Bank

§ 4551. Definitions

§ 4552. Law governing

§ 4553. Liberal construction

§ 4554. Administration expenses

§ 4555. Duties of State Treasurer

§ 4556. Cooperation by government agencies; cost

§ 4571. Establishment

§ 4571a. Reports

§ 4572. Membership; vacancies

§ 4573. Removal from office; oath

§ 4574. Officers; quorum

§ 4575. Bonding of members

§ 4576. Compensation; expenses

§ 4577. Staff

§ 4591. General powers

§ 4592. Supplementary powers

§ 4593. Prohibited acts

§ 4594. Annual report; audit

§ 4595. Annual budget

§ 4596. Care and custody of bonds

§ 4621. Form of obligation; faith and credit

§ 4622. Negotiability of bonds or notes

§ 4623. Bonds or notes as legal investment

§ 4624. Tax exemption

§ 4641. Loans to governmental units

§ 4642. Amount and purpose; general obligation

§ 4643. Form of issuance

§ 4644. Sale price

§ 4645. Administrative consent or conditions not required

§ 4646. Approval of Governor and Treasurer

§ 4647. Payment or refunding of notes

§ 4648. Terms of agreement with bond or noteholder

§ 4649. Purchase and disposition of own obligations

§ 4650. Interest rates

§ 4651. Exchange of coupon bonds

§ 4652. Waiver of defenses; rights of holder

§ 4653. Bond anticipation notes

§ 4654. Marketability; certification

§ 4655. Presumption of validity

§ 4671. Reserve fund

§ 4672. Withdrawal or transfer

§ 4673. Investment

§ 4674. Relation to bond sales

§ 4675. Annual appropriation

§ 4676. General Fund

§ 4677. Operating expenses

§ 4678. Special accounts

§ 4679. Additional accounts

§ 4680. Application of funds; excess

§ 4681. Revenue Bond Reserve Fund

§ 4682. Investment of Revenue Bond Reserve Fund

§ 4683. Revenue Fund

§ 4684. Revenue Fund operating expenses

§ 4685. Special accounts in Revenue Fund

§ 4701. Rights of holders paramount

§ 4702. Default in payment

§ 4703. Powers of trustee on default

§ 4704. Superior Court jurisdiction

§ 4705. Notice on default

§ 4706. Personal liability

§ 4707. Exemption from execution and sale

§ 4708. Pledge of revenues; lien thereof

§ 4709. Federal insurance or guaranty

§ 4710. Surety for deposits by Bank