Terms Used In Vermont Statutes > Title 10 > Chapter 12 - Vermont Economic Development Authority

• Abandoned well: means any well or hole whose original purpose and use has been permanently discontinued or that is in such a state of disrepair that the well or hole has the potential for transmitting contaminants into an aquifer or otherwise threatens the public health or safety. See
• Aboveground storage tank: means any tank, other than an underground storage tank, used to store any of the following petroleum products: gasoline, diesel, kerosene, used oil, or heating oil. See
• Acceptable piping: means :

• Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;

• Actual notice: means receipt of written notice hand-delivered or mailed to the last known address. See
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Afternoon: means the period of a day between noon and midnight;

• Agency: means Agency of Natural Resources. See
• Agency: means the Agency of Natural Resources. See
• Agency: means the Agency of Natural Resources as created by 3 Vt. See
• Agency: means the Agency of Transportation. See
• Agency: means the Vermont Agency of Commerce and Community Development. See
• Agency: means the Vermont Agency of Commerce and Community Development. See
• Agency: means the Agency of Natural Resources. See
• Agent: means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities. See
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Aquifer: means a water bearing stratum of permeable rock, sand, gravel, or other alluvial soils. See
• Area unemployment rate: means the average monthly unemployment rate over the most recent two-year period for which data is available, of the labor market area of which a municipality is a part, as reported by the Vermont Department of Labor. See
• Arrest: Taking physical custody of a person by lawful authority.
• Artificial regulation of stream flow: means the intermittent or periodic manipulation of water levels and the intermittent or periodic regulation of discharge of water into the stream below the dam. See
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Authority: means the Vermont Economic Development Authority established under section 213 of this title. See
• Authority: means the Vermont Economic Development Authority established under section 213 of this title. See
• Bank: means :

• Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions;

• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Banks: means that land area immediately adjacent to the bed of the stream, which is essential in maintaining the integrity thereof. See
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Basin: is a lso referred to as "Hydrologic Unit Code 6" or "HUC-6". See
• Basin: means a watershed basin designated by the Secretary for use as a planning unit under subsection 1253(d) of this title. See
• Basin plan: means a plan prepared by the Secretary for each of Vermont's 17 basins in conjunction with the basin planning process required by section 303(e) of the federal Clean Water Act and 40 C. See
• Bed: means the maximum area covered by waters of the stream for not less than 15 consecutive days in one year. See
• Beneficial uses: means those uses included in each groundwater class. See
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bequest: Property gifted by will.
• Berm: means a linear fill of earthen material on or adjacent to the bank of a watercourse that constrains waters from entering a flood hazard area or river corridor, as those terms are defined in subdivisions 752(3) and (11) of this title. See
• biennially: shall mean the year in which a regular session of the General Assembly is held. See
• Board: means the Natural Resources Board. See
• Board: means the State Infrastructure Bank Board as established under this subchapter. See
• Board: means the Vermont Land Access and Opportunity Board. See
• Board: means the Vermont Community Development Board. See
• Board: means the Vermont Housing and Conservation Board established by this chapter. See
• Board: means the Natural Resources Board. See
• Board: means the Secretary of Natural Resources. See
• Bodily injury: means bodily injury, including sickness, disease, or death, sustained by any person. 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
• Bond act: means any general or special law authorizing a governmental unit to incur indebtedness for all or any part of the cost of a qualified project. 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
• Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See
• Buyer: means a person who buys or contracts to buy goods. See
• Capacity: means the maximum volume of water capable of being withdrawn by the water withdrawal system. See
• Category one tank: means an underground storage tank, except for the following:

• Chief executive officer: means the mayor of a city; or if no mayor, the president of the board of aldermen, the chair of the city council, the chair of the board of selectboard, the president of the board of trustees, or chair of the prudential committee. See
• Clean water project: means a best management practice or other program designed to improve water quality to achieve a target established under section 922 of this title that:

• Clearing house: means an association of banks or other payors regularly clearing items;

• Collection system: means pipelines or conduits, pumping stations, force mains, and all other facilities used to collect or conduct sewage or stormwater, or both sewage and stormwater. See
• Combination tank system: means an underground storage tank system consisting of a single-wall tank and acceptable piping. See
• Combined sewer overflow: means an untreated or partially treated discharge to waters of the State from a combined sewer system outfall that results from a wet weather storm event. See
• Combined sewer system: means a collection system that was designed to convey sewage and stormwater through the same network of pipes to a treatment plant. See
• Commercial establishment: means any premises used for the purpose of carrying on or exercising any trade, business, profession, vocation, or commercial or charitable activity, including laundries, hospitals, and food or restaurant establishments. See
• Commercial unit: means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See
• Commercial weighing and measuring device: shall be construed to include any weight or measure or weighing or measuring device commercially used or employed in establishing the size, quantity, extent, area, or measurement of quantities, things, produce, or articles for distribution or consumption, purchased, offered, or submitted for sale, hire, or award, or in computing any basic charge or payment for services rendered on the basis of weight or measure, and shall also include any accessory attached to or used in connection with a commercial weighing or measuring device when that accessory is so designed or installed that its operation affects, or may affect, the accuracy of the device. See
• Commissioner: means the Commissioner of Forests, Parks and Recreation. See
• Commissioner: means the Commissioner of Financial Regulation. See
• Commissioner: means the Commissioner of Environmental Conservation or the Commissioner's designated representative. See
• common enterprise: means an enterprise in which the fortunes of the investor are interwoven with those of either the person offering the investment, a third party, or other investors; and

• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose. See
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Cross section: means the entire channel to the top of the banks. See
• Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank;

• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the Department of Environmental Conservation. See
• Department: means the Department of Forests, Parks and Recreation within the Agency of Natural Resources. See
• Department: means the Department of Environmental Conservation. See
• Department: means the Department of Environmental Conservation. See
• Department: means the Department of Environmental Conservation. See
• Dependent: A person dependent for support upon another.
• Depository institution: means :

• Design life: means the period of time that a clean water project is designed to operate according to its intended purpose. See
• Designated center: means a downtown development district, village center, new town center, growth center, Vermont neighborhood, or neighborhood development area designated under 24 Vt. See
• Discharge: means the placing, depositing, or emission of any wastes, directly or indirectly, into an injection well or into the waters of the State. See
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (§ 8—102) or instructions for uncertificated securities (§ 8—102), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft;

• Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
• Donor: The person who makes a gift.
• Double-wall tank system: means an underground storage tank system consisting of a double-wall tank and acceptable piping. See
• Draft: means a draft as defined in § 3—104 or an item, other than an instrument, that is an order;

• Drawee: means a person ordered in a draft to make payment;

• Dwelling unit: means a building or the part of a building that is used as a home, residence, or sleeping place by one or more persons who maintain a household. See
• Eligible applicant: means any:

• eligible facility: means the creation, establishment, acquisition, construction, expansion, improvement, reclamation, or renovation of an eligible facility. See
• eligible project: means any industrial, commercial, or agricultural enterprise or endeavor approved by the Authority that meets the criteria established in the Vermont Sustainable Jobs Strategy adopted by the Governor under section 280b of this title, including land and rights in land, air, or water; buildings; structures; machinery; and equipment of such eligible facilities or eligible projects, except that an eligible facility or project shall not include the portion of an enterprise or endeavor relating to the sale of goods at retail where such goods are manufactured primarily out of State, and except further that an eligible facility or project shall not include the portion of an enterprise or endeavor relating to housing unless otherwise authorized in this chapter. See
• Employment loss: means the absolute decline in the annual average number of insured private sector employees in the municipality during the most recent 12-month period for which data is reported by the Vermont Department of Labor compared to the same 12-month period five years earlier. See
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Farming: means farming as the term is defined in subdivision 6001(22) of this title. See
• Fault: means wrongful act, omission, breach, or default. See
• Federal covered investment adviser: means a person registered under 15 U. See
• Federal covered security: means a security that is, or upon completion of a transaction will be, a covered security under 15 U. See
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Federally guaranteed security: means any security, investment, or evidence of indebtedness that is either directly or indirectly insured, or guaranteed, in whole or in part, as to the repayment of principal or interest, or both, by the United States or any instrumentality thereof. See
• Federally insured project loan: means any loan to finance or refinance the cost of a project that is either directly or indirectly insured or guaranteed, in whole or in part, as to the repayment of principal or interest, or both, by the United States or any instrumentality thereof, or any commitment by the United States or any instrumentality thereof to so insure or guarantee such a loan. See
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• Fiduciary: A trustee, executor, or administrator.
• Filing: means the receipt under this chapter of a record by the Commissioner or a designee of the Commissioner. See
• Finance lease: means a lease with respect to which:

• Financial assistance: means any financial assistance for a qualified project provided by the Board under the Program, including loans to and leases with qualified borrowers, the establishment of reserves and other security, and guarantees of and credit enhancement for the obligations of governmental units and private enterprises incurred in connection with the financing of qualified projects. See
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Forestry operation: includes the primary processing of forest products of commercial value on a parcel where the timber harvest occurs. See
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Fund: means the fund created by section 1941 of this title. See
• Fund: means the Vermont Housing and Conservation Trust Fund established by this chapter. See
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• gender identity: means an individual's actual or perceived gender identity, or gender-related characteristics intrinsically related to an individual's gender or gender-identity, regardless of the individual's assigned sex at birth. 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
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (§ 2A—309), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. 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
• Grantee: means a municipality that receives a grant under the provisions of this subchapter. See
• Grantor: The person who establishes a trust and places property into it.
• Groundwater: means water below the land surface, including springs. See
• Groundwater: means water below the land surface, but does not include surface waters within the meaning of subdivision 1251(13) of this title. See
• Guarantee: means a contract or contracts entered into by the Program pursuant to which the Program agrees to guarantee all or a portion of the obligations of a governmental unit or private enterprise incurred to finance a qualified project. See
• Guaranteed: means guaranteed as to payment of all principal and all interest. See
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Hazardous materials: means any material determined by the Secretary to have an unusually harmful effect on water quality if discharged to the waters of the State. See
• Heating Fuel Account: means the Heating Fuel Account of the Fund created by section 1941 of this title. See
• Highway account: means the highway account of the Program, established under this subchapter. See
• Historically marginalized or disadvantaged community: means a community that has historically suffered from discrimination and has not had equal access to public or private economic benefits due to the race, ethnicity, gender, geography, language preference, immigrant or citizen status, sexual orientation, gender identity, socioeconomic status, or disability status of its members. See
• Hole: means any excavation, deeper than 20 feet with at least one horizontal dimension less than five feet. See
• Household cleansing product: means any product, including soaps and detergents used for domestic or commercial cleaning purposes, including the cleansing of fabric, dishes, food utensils, and household and commercial premises. See
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Industrial park: means an area of land planned and designed as a location for one or more industrial buildings, including adequate access roads, utilities, and other services necessary for eligible facilities. See
• Industrial park planning and development: means the basic architectural and engineering services needed to determine site and land use feasibility, and the planning and carrying out of land improvements necessary to make industrial land usable. See
• inhabitants: shall mean the population of the political division referred to, as ascertained by the national census last completed before the time when such population is a material fact. See
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Inspector: means a State inspector of weights and measures. See
• Installment lease contract: means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent. See
• Institutional investor: means any of the following, whether acting for itself or for others in a fiduciary capacity:

• Instream material: means :

• Insurance company: means a company organized as an insurance company whose primary business is writing insurance or reinsuring risks underwritten by insurance companies and that is subject to supervision by the insurance commissioner or a similar official or agency of a state. See
• Insured: means insured as to payment of all principal and all interest. See
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• International banking institution: means an international financial institution of which the United States is a member and whose securities are exempt from registration under 15 U. See
• Investment adviser: means a person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See
• Investment adviser representative: means an individual employed by or associated with an investment adviser or federal covered investment adviser and who makes any recommendations or otherwise gives investment advice regarding securities, manages accounts or portfolios of clients, determines which recommendation or advice regarding securities should be given, provides investment advice or holds himself or herself out as providing investment advice, receives compensation to solicit, offer, or negotiate for the sale of or for selling investment advice, or supervises employees who perform any of the foregoing. See
• Issuer: means a person that issues or proposes to issue a security, subject to the following:

• ISTEA: means the federal Intermodal Surface Transportation Efficiency Act of 1991, P. See
• Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. 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.
• Justice: when applied to a person, other than a Justice of the Supreme Court, shall mean a justice of the peace for the county for which he or she is elected or appointed. See
• Landlord: means the owner, lessor, or where applicable, the sublessor of a residential dwelling unit or the building of which it is a part. See
• Large woody debris: means any piece of wood within a watercourse with a diameter of 10 or more inches and a length of 10 or more feet that is detached from the soil where it grew. See
• Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See
• Lease: means any form of capital or operating lease for all or a portion of a qualified project between the Program and a governmental unit or private enterprise. See
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. See
• Lease contract: means the total legal obligation that results from the lease agreement as affected by this article and any other applicable rules of law. See
• Leasehold interest: means the interest of the lessor or the lessee under a lease contract. See
• Legacy: A gift of property made by will.
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Legislative body: means the aldermen of a town, the board of aldermen, or the council of a city, or the board of trustees or prudential committee of an incorporated village. See
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Lessee: means a person who acquires the right to possession and use of goods under a lease. See
• Lessor: means a person who transfers the right to possession and use of goods under a lease. See
• LGBTQ: means an individual who identifies as lesbian, gay, bisexual, transgender, queer, or questioning. See
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensed public weighmaster: means a natural person licensed under this chapter. See
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien: means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest. See
• Lineal descendant: Direct descendant of the same ancestors.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• 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
• Local development corporation: means any nonprofit organization incorporated in the State for the purpose of fostering, encouraging, and assisting the physical location of business enterprises within the State and having as its principal purpose the industrial and economic development of one or more political subdivisions, and shall include the Northeastern Vermont Development Association and any State development company organized under subdivision 216(13) of this title; however, in addition to the foregoing, for the purpose of providing assistance to small business incubator facilities, any nonprofit organization that enters into a written agreement with the Authority to establish, operate, and administer a small business incubator facility, including municipalities, local or regional nonprofit development corporations, and higher educational institutions, shall have the rights and obligations of a local development corporation under this chapter. See
• Lot: means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract. See
• Lower income: means less than or equal to the median income based on statistics from State or federal sources. See
• Maintenance: means ensuring that a clean water project continues to achieve its designed pollution reduction value for its design life. See
• Merchant lessee: means a lessee that is a merchant with respect to goods of the kind subject to the lease. See
• Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. See
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Motor Fuel Account: means the Motor Fuel Account of the Fund created by section 1941 of this title. See
• municipal forest: means a tract of land primarily devoted to producing wood products, maintaining wildlife habitat, protecting water supplies, providing forest recreation and conservation education. See
• Municipality: means a municipality as defined in 1 V. See
• Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
• Municipality: means a city, town, or incorporated village. See
• Municipality: means a town or city. See
• Municipality: means a town or city. See
• NHS Act: means the federal National Highway System Designation Act of 1995, P. See
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• nonissuer distribution: means a transaction or distribution not directly or indirectly for the benefit of the issuer. See
• Normal wear and tear: means the deterioration that occurs, based upon the reasonable use for which the rental unit is intended, without negligence, carelessness, accident, or abuse of the premises or equipment or chattels by the tenant or members of his or her household or their invitees or guests. See
• Oath: shall include affirmation where by law an affirmation may be substituted. See
• Oath: A promise to tell the truth.
• 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.
• Offer to purchase: includes an attempt or offer to obtain, or solicitation of an offer to sell, a security or interest in a security for value. See
• Oil: means oil of any kind, including petroleum, fuel oils, oily sludge, waste oil, gasoline, kerosene, jet fuel, tar, asphalt, crude oils, lube oil, insoluble or partially soluble derivatives of mineral, animal, or vegetable oils, or any product or mixture thereof. See
• Operator: means any person in control of, or having responsibility for, the daily operation of the underground or aboveground storage tank. See
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: means :

• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Per capita income: means the total adjusted gross incomes of residents of a municipality divided by total exemptions claimed by residents of that municipality, as reported to the Vermont Department of Taxes in the most recent year for which data is available. See
• Person: means any individual, partnership, company, corporation, association, unincorporated association, joint venture, trust, municipality, the State of Vermont, or any agency, department, or subdivision of the State, federal agency, or any other legal or commercial entity. See
• 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
• Person: means both the plural and singular, as the case demands and includes individuals, partnerships, corporations, companies, societies, and associations. See
• Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity. See
• Person: means any individual; partnership; company; corporation; association; unincorporated association; joint venture; trust; municipality; the State of Vermont or any agency, department, or subdivision of the State; any federal agency; or any other legal or commercial entity. See
• Person: means any individual; partnership; company; corporation; association; joint venture; trust; municipality; the State of Vermont or any agency, department, or subdivision of the State; any federal agency; or any other legal or commercial entity. See
• Person: means any individual, partnership, company, corporation, cooperative, association, unincorporated association, joint venture, trust, the State of Vermont, or any department, agency, subdivision, or municipality, the U. See
• Person: means any individual; partnership; company; corporation; association; joint venture; trust; municipality; the State of Vermont or any agency, department, or subdivision of the State; any federal agency; or any other legal or commercial entity. See
• Personal property: All property that is not real property.
• Phosphorus: means elemental phosphorus. See
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Political subdivision: means a city, town, incorporated village, or county. See
• Population: means the most recent population of a municipality as determined by the Vermont Department of Health. See
• post-consumer materials: means only those products generated by a business or a consumer that have served their intended end uses and that have been separated or diverted from solid waste. See
• Predecessor act: means chapter 131 of this title. See
• Premises: means a dwelling unit, its appurtenances and the building, and the grounds, areas, and facilities held out for the use of tenants generally or whose use is promised to the tenant. See
• present sale: means a sale which is accomplished by the making of the contract. See
• Present value: means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain. See
• President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
• Price amendment: means the amendment to a registration statement filed under 15 U. See
• Private enterprise: means a private person or entity that has entered into a contract with a public authority to design, finance, construct, or operate a qualified project that is within the jurisdiction of such public authority, provided that the public authority is responsible for complying with all applicable requirements of ISTEA and the NHS Act with respect to such qualified project. See
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Processing: means to subject a product to a particular method, system, or technique of preparation, handling, or other treatment designed to effect a particular result. See
• Program: means the State Infrastructure Bank Program established pursuant to this subchapter. See
• Project costs: means any costs or expenses reasonably incidental to a project and may without limitation include the costs of:

• 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
• Property damage: means :

• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Protected tenant: means a tenant who is:

• Public interest: means that which is for the greatest benefit to the people of the State as determined by the standards set forth in subsection 1253(e) of this title. See
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• public record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See
• Public water supply: means a water supply system with 15 or more connections. See
• Purchase: includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods. 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
• Quorum: The number of legislators that must be present to do business.
• real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Redlining: The alleged practice of certain lending institutions of not making mortgage, home improvement, and small business loans in certain neighborhoods-usually areas that are deteriorating or considered by the lender to be poor investments. ^{Source: OCC}
• Regulated substance: means all petroleum and toxic, corrosive, or other chemicals and related sludge included in the following:

• Release: means any spilling, leaking, emitting, discharging, escaping, leaching, or disposing from an underground storage tank or aboveground storage tank into groundwater, surface water, or soils. See
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Rent: means all consideration to be made to or for the benefit of the landlord under the rental agreement, not including security deposits. See
• Rental agreement: means all agreements, written or oral, embodying terms and conditions concerning the use and occupancy of a dwelling unit and premises. See
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• 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
• road: shall include bridges thereon and their approaches. See
• said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
• sale: means barter and exchange. See
• Sale: includes every contract of sale, contract to sell, or disposition of a security or interest in a security for value, and "offer to sell" includes every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value. See
• seal: shall include an impression of the official seal made upon paper alone or by means of a wafer or wax affixed thereto. See
• Secretary: means the Secretary of Natural Resources or the Secretary's duly authorized representative. See
• Secretary: means the Secretary of Natural Resources or the Secretary's duly authorized representative. See
• Secretary: means the Secretary of Natural Resources. See
• Secretary: means the Secretary of the Agency of Agriculture, Food and Markets or his or her designee. See
• Secretary: means the Secretary of Transportation. See
• Secretary: means the Secretary of the Agency. See
• Secretary: means the Secretary of the Agency. See
• Secretary: means the Secretary of Natural Resources or the Secretary's duly authorized representative. See
• Secretary: means the Secretary of Natural Resources or the Secretary's duly authorized representative. See
• Secretary: means the Secretary of Natural Resources or his or her authorized representative. See
• Secretary: means the Secretary of Natural Resources or the Secretary's designated representative. See
• Securities and Exchange Commission: means the U. See
• Security: means a note; stock; treasury stock; security future; bond; debenture; evidence of indebtedness; certificate of interest or participation in a profit-sharing agreement; collateral trust certificate; preorganization certificate or subscription; transferable share; investment contract; voting trust certificate; certificate of deposit for a security; fractional undivided interest in oil, gas, or other mineral rights; put, call, straddle, option, or privilege on a security, certificate of deposit, or group or index of securities, including an interest therein or based on the value thereof; put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency; or, in general, an interest or instrument commonly known as a "security"; or a certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing. See
• Self-regulatory organization: means any national securities exchange, registered securities association, clearing agency registered under 15 U. See
• Seller: means a person who sells or contracts to sell goods. See
• Service of process: The service of writs or summonses to the appropriate party.
• Servicing: means developing of well yields, placing liners or seals, grouting, restricting the flow of flowing wells, repairing or closing wells, and installing or maintaining well pump systems. See
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Sewage: means domestic, commercial, and industrial wastewater conveyed by a collection system. See
• sewage: as used in this chapter shall not include the rinse or process water from a cheese manufacturing process. See
• sexual orientation: means female or male homosexuality, heterosexuality, or bisexuality. See
• Single-wall tank system: means an underground storage tank system consisting of a single-wall tank and single-wall pressurized piping. See
• Small business incubator facility: means a building, group of buildings, or part of a building where small and growing businesses may obtain small units of space available for purchase or lease at below-market rates or on flexible terms, shared office support services, and financial and general business management advice and assistance. See
• Speculative building: means a basic structure of flexible design erected by a local development corporation for eventual sale or lease to a purchaser or tenant requiring eligible facilities. See
• Spring: means a groundwater source where groundwater flows naturally to the surface of the earth and is collected with a developed structure that is designed to locate or extract groundwater. See
• Standard cost: means the projected cost of achieving a pollutant load reduction per unit or per best management practice in a basin. See
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• State: means a state of the United States, the District of Columbia, Puerto Rico, the U. See
• State facilities: when used in this chapter, shall mean all State-owned or leased buildings, structures, appurtenances, and grounds. See
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Stormwater: means precipitation and snowmelt that does not infiltrate into soil, including material dissolved or suspended in it. See
• Sublease: means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease. See
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See
• Supply contract: means a contract under which a lessor buys or leases goods to be leased. See
• Surface water: means all rivers, streams, creeks, brooks, reservoirs, ponds, lakes, and all bodies of surface waters that are contained within, flow through, or border upon the State or any portion of it. See
• Surface water: means waters within the meaning of subdivision 1251(13) of this title. See
• sustainable development: means meeting the needs of the present without compromising the ability of future generations to meet their own needs. See
• sworn: shall include affirmed. See
• Tank integrity demonstration: means a test or a series of tests or other appropriate procedures prescribed by the Secretary to ascertain the condition of an underground storage tank and its surroundings. See
• Technical criteria: means the numerical parameters or scientific parameters that, when followed, will result in groundwater suitable for the uses defined in its class. See
• Tenant: means a person entitled under a rental agreement to occupy a residential dwelling unit to the exclusion of others. See
• Tenant: means the tenant or occupier of an eligible facility or small business incubator facility. See
• Testator: A male person who leaves a will at death.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Timber: means trees, saplings, seedlings, bushes, shrubs, and sprouts from which trees may grow, of every size, nature, kind, and description. See
• Timber harvest: means a forestry operation involving the harvest of timber. See
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
• Trace quantity: means an incidental amount of phosphorus that is not part of the household cleansing product formulation, is present only as a consequence of manufacturing and does not exceed 0. See
• Transit account: means the transit account of the Program, established pursuant to this subchapter. See
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust agreement: means any agreement entered into by the Program and the State Treasurer providing for the issuance, security, and payment of bonds issued pursuant to this subchapter. See
• Trustee: A person or institution holding and administering property in trust.
• Underground storage tank: means any one or combination of tanks, including underground pipes connected to it or them, that is or has been used to contain an accumulation of regulated substances, and the volume of which, including the volume of the underground pipes connected to it or them, is 10 percent or more beneath the surface of the ground. See
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Untreated discharge: means :

• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Vehicle: means any device in, upon, or by which any property, produce, commodity, or article is or may be transported or drawn. See
• Vermont Water Quality Standards: means the standards adopted pursuant to chapter 47 and subsection 6025(b) of this title. See
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
• VHCB: means the Vermont Housing and Conservation Board. See
• Village: shall mean an incorporated village. See
• Waste: means effluent, sewage, or any substance or material, liquid, gaseous, solid, or radioactive, including heated liquids, whether or not harmful or deleterious to waters; provided, however, the term "sewage" as used in this chapter shall not include the rinse or process water from a cheese manufacturing process. See
• Wastewater treatment facility: means a treatment plant, collection system, pump station, and attendant facilities permitted by the Secretary for the purpose of treating sewage. See
• Water pollution abatement and control facilities: means such equipment, conveyances, and structural or nonstructural facilities owned or operated by a municipality that are needed for and appurtenant to the prevention, management, treatment, storage, or disposal of stormwater, sewage, or waste, including a wastewater treatment facility, combined sewer separation facilities, an indirect discharge system, a wastewater system, flood resiliency work related to a structural facility, or a groundwater protection project. See
• Water resources: means groundwater or surface water. See
• Watercourse: means any perennial stream. See
• Waters: includes all rivers, streams, creeks, brooks, reservoirs, ponds, lakes, springs, and all bodies of surface waters, artificial or natural, that are contained within, flow through, or border upon the State or any portion of it. See
• Watershed: means a region containing waters that drain into a particular brook, stream, river, or other body of water. See
• weight: as used in this chapter in connection with any commodity shall mean net weight. See
• Weights and measures: means all weights and measures of every kind, instruments and devices for weighing and measuring, and any appliances and accessories associated with any or all such instruments and devices including electric vehicle supply equipment available to the public, as defined in subdivision 2730(a)(14) of this title, but not including meters for the measurement of electricity, gas (natural or manufactured), or water when they are operated in a public utility system. See
• Well: means any hole drilled, driven, bored, excavated, or created by similar method into the earth to locate, monitor, extract, or recharge groundwater where the water table or potentiometric surface is artificially lowered through pumping. See
• Well: means any hole deeper than 20 feet drilled, driven, or bored into the earth to locate, monitor, extract, or recharge groundwater or any hole deeper than 20 feet drilled, driven, or bored for the primary purpose of transferring heat to or from the earth's subsurface. See
• Withdrawal: means the intentional diversion from a surface water by pumping, gravity, or other method for the purpose of being used for irrigation, industrial uses, snowmaking, livestock watering, water supply, aquaculture, or other off-stream uses. See
• withdrawal: means the intentional removal by any method or instrument of groundwater from a well, spring, or combination of wells or springs. See
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.