Vermont Statutes Title 10 Sec. 249
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Terms Used In Vermont Statutes Title 10 Sec. 249
- 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
- eligible facility: means the creation, establishment, acquisition, construction, expansion, improvement, reclamation, or renovation of an eligible facility. See
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
§ 249. Remedies
Except as provided in any financing or security document entered into or any bond issued under this subchapter, each of the parties to the financing or security document or any bondholder may enforce the obligation of any other person to him or her under the bond or instrument by appropriate legal proceedings in a court of competent jurisdiction. A receiver may be appointed for an eligible facility in any such proceeding. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 15, eff. March 27, 1975; 1993, No. 89, § 3(b), eff. June 15, 1993.)