Source: http://legislature.vermont.gov/statutes/section/16/131/03851
Timestamp: 2017-10-22 21:13:06
Document Index: 170102677

Matched Legal Cases: ['§ 3851', '§ 1902', '§ 2', '§ 1', '§ 1', '§ 1', '§ 10', '§ 68', '§ 2', '§ 49', '§ 80']

(Cite as: 16 V.S.A. § 3851)
(5)(A) nonprofit hospital as defined in 18 V.S.A. § 1902;
(B) nonprofit institution whose purpose is devoted primarily to the maintenance and operation of diagnostic and therapeutic facilities for medical, surgical, or psychiatric care of ambulatory patients;
(D) nonprofit assisted living facility, nonprofit continuing care retirement facility, nonprofit residential care facility, or similar nonprofit facility for the continuing care of elders or the infirm, provided that such facility is owned by or under common ownership with an otherwise eligible institution, and in the case of facilities to be financed for an eligible institution provided by this subdivision (5) of this subsection, for which the Green Mountain Care Board, if required, has issued a certificate of need.
(e) "Cost" as applied to any facilities may embrace the cost of construction; the cost of acquisition, including the acquisition of all lands, structures, property, rights, rights of way, franchises, easements, and interests in land required for the construction or operation of any facilities; the cost of demolishing or removing any buildings or structures upon land acquired hereunder, including the cost of acquiring any lands to which the buildings or structures may be moved; the cost of all furnishings, equipment and machinery, financing charges, interest prior to and during construction or acquisition and, if deemed advisable by the Agency, for a period not exceeding two years after completion of construction or acquisition, provision for reserves, cost of architectural, engineering, financial, and legal services, plans and specifications, studies, surveys, estimates of cost and of revenue, administrative expenses, expenses necessary or incident to determining the feasibility of the facilities; and any other expenses as may be necessary or incident to the construction or acquisition of the facilities, the financing thereof and the placing of the facilities in operation. Any obligation or expense incurred by the Agency prior to the issuance of bonds for the facilities in connection with any of the foregoing items may be included as part of the cost; provided, however, that there may be included as part of the cost the payment or reimbursement to any eligible institution of its expenditures in connection with the acquisition or construction of any facilities incurred by such eligible institution not earlier than 25 years before the financing thereof by the Agency.
(g) "Guarantor" means any person liable, directly or indirectly, under the provisions of a financing agreement for the unsatisfied obligations of the eligible institution thereunder, whether designated a guarantor, surety, accommodation party, insurer, or other designation. (Added 1966, No. 56 (Sp. Sess.); § 2, eff. March 12, 1966; amended 1969, No. 224 (Adj. Sess.), § 1, eff. March 31, 1970; 1971, No. 67, §§ 1, 2, eff. April 15, 1971; 1979, No. 93 (Adj. Sess.), § 1, eff. Feb. 28, 1980; 1987, No. 30; 1991, No. 24, § 10; 1997, No. 148 (Adj. Sess.), § 68, eff. April 29, 1998; 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012; 2013, No. 79, § 49a; 2013, No. 96 (Adj. Sess.), § 80.)