Vermont Statutes Title 10 Sec. 280r
Terms Used In Vermont Statutes Title 10 Sec. 280r
- Agency: means the Agency of Transportation. See
- Authority: means the Vermont Economic Development Authority established under section 213 of this title. See
- Bond: means a note, bond, debenture, or any other evidence of indebtedness issued by a municipality or by the State of Vermont under subchapter 4 of this chapter to finance a project in whole or in part or to refund indebtedness incurred for that purpose. See
- Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
- Loan: means any form of financial assistance subject to repayment which is provided by the Program to a qualified borrower for all or any part of the cost of a qualified project. See
- Project revenues: means all rates, rents, fees, assessments, charges and other receipts derived or to be derived by a qualified borrower from a qualified project, and, if so provided in the applicable loan agreement pursuant to this subchapter, from any system of which such qualified project is a part and any other revenue producing facilities under the ownership or control of such qualified borrower, including proceeds of grants, gifts, appropriations and loans, including the proceeds of loans or grants made by the Board, investment earnings, reserves for capital and current expenses, proceeds of insurance or condemnation and the sale or other disposition of property; provided, however, the project revenues shall not include any ad valorem taxes levied directly by a governmental unit on any real and personal property. See
- Qualified project: means any activity, as defined in Title 23 and Title 49, Code of Federal Regulations. See
- Revenues: when used with respect to the Board, means any receipts, fees, revenues, or other payments received or to be received by the Program, including receipts and other payments received by or deposited in the Program, payments of principal, interest, or other charges on loans, leases, grants, appropriations or other financial assistance from the State or the United States or any political subdivision or instrumentality of either in connection with the Program, investment earnings on its funds and accounts, including the Program, and any other fees, charges, or other income received or receivable by the Program. See
§ 280r. Powers and privileges of government units
In order to provide for the collection and enforcement of fees, rates, rents, assessments, and other charges for the operation of any qualified project, the system of which it is a part and any other revenue producing facilities from which the governmental unit derives project revenues, in addition to any other authority provided by law or any applicable bond act, governmental units are hereby granted all the powers and privileges granted to them by law with respect to any similar fee, rate, rent, assessment, or other charge. Any governmental unit may enter into agreements with the Agency:
(1) regarding the operation of a pricing system for the services producing facilities from which the governmental unit derives project revenues. Such agreements may include provisions defining the costs of such services, the qualified project and such local system and other facilities, and covenants or agreements regarding the fixing and collection of fees, rates, rents, assessments, and other charges for such costs and the maintenance of such pricing system at levels sufficient to pay or provide for all such costs and any payments due the department under any loan agreement or governmental obligations;
(2) regarding the operation of an enterprise fund established for any qualified project, and the system of which it is a part and any other revenue producing facilities from which the governmental unit derives project revenues. Such agreements may include fiscal and accounting controls and procedures, provisions regarding the custody, safeguarding, and investment of project revenues and other amounts credited thereto, the establishment of reserves and other accounts and funds and the application of any surplus funds. (Added 1997, No. 43, § 1.)