Vermont Statutes Title 19 Sec. 2612
Terms Used In Vermont Statutes Title 19 Sec. 2612
- Agency: means the Agency of Transportation. See
- Contract: A legal written agreement that becomes binding when signed.
- Facility: means transportation infrastructure that is, or if developed, would be, within the jurisdiction of the Agency or eligible for federal-aid funding managed through the Agency. 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.
- 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.
- Project: means the capital development of a facility. 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
[Section 2612 repealed effective July 1, 2026.]
§ 2612. Definitions
As used in this subchapter:
(1) “Facility” means transportation infrastructure that is, or if developed, would be, within the jurisdiction of the Agency or eligible for federal-aid funding managed through the Agency.
(2) “Project” means the capital development of a facility.
(3) “Proposal” means a conditional offer of a private entity that, after review, negotiation, and documentation, and after legislative approval if required under this subchapter, may lead to a P3 agreement as provided in this subchapter.
(4) “Public-private partnership” or “P3” means an alternative project delivery mechanism that may be used by the Agency to permit private sector participation in a project, including in its financing, development, operation, management, ownership, leasing, or maintenance. As used in this subchapter, “partnership” shall refer solely to a “public-private partnership” and “partner” shall refer to the State or to the private entity participant or participants in a public-private partnership.
(5) “P3 agreement” means a contract or other agreement between the Agency and a private entity to undertake a project as a public-private partnership and that sets forth rights and obligations of the Agency and the private entity in that partnership. (Added 2017, No. 158 (Adj. Sess.), § 20, eff. May 21, 2018; amended 2019, No. 59, § 24; repealed on July 1, 2026 by 2017, No. 158 (Adj. Sess.), § 21, as amended by 2023, No. 62, § 41.)