Terms Used In Vermont Statutes Title 10 Sec. 280q

• Board: means the State Infrastructure Bank Board as established under this subchapter. 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
• Bonds: means bonds, notes, or other evidence of indebtedness. See
• Borrower obligations: means government obligations or a promissory note of a private enterprise issued to evidence a loan. See
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• General revenues: when used with reference to a governmental unit means revenues, receipts, assessments, and other monies of a governmental unit, and all rights to receive the same, including revenue permitted to be collected by municipalities, project revenue, assessments upon or payments received from any other governmental unit that is a member or service recipient of the governmental unit, proceeds of loans made in accordance with this subchapter and of grants made in accordance with State transportation or highway grant programs, investment earnings, reserves for debt service or other capital or current expenses, receipts from any rate, charge, tax excise, or fee, all or a part of the receipts of which are payable or distributable to or for the account of the governmental unit, local aid distributions, if any, and receipts, distributions, reimbursements, and other assistance from the State or the United States; provided, however, that general revenues shall not include any monies restricted by law to specific statutorily defined purposes inconsistent with their treatment as general revenues for purposes of this subchapter. See
• Governing body: means the board of aldermen or city council of a city, the board of selectboard members of a town, and the trustees of an incorporated village. 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
• Loan agreement: means any agreement entered into between the program and a qualified borrower pertaining to a loan or lease. See
• 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.
• Program: means the State Infrastructure Bank Program established pursuant to this subchapter. 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 borrower: means any governmental unit or private enterprise that is authorized to construct, operate, or own a qualified project. 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