reglab/housing_qa huggingface dataset:
10 V.S.A. § 280i
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280i. Disbursement and use of funds

§ 280i. Disbursement and use of funds|(a) Subject to limitations under ISTEA and the NHS Act and other federal laws, other laws respecting the use of particular monies in the Program, and the provisions of any applicable trust agreement, amounts in the Program may be used only:  (1) to provide financial assistance, including through loans and leases, to finance or refinance the costs of qualified projects and to provide for all or any part of the interest costs on loans made by the Program during the construction of such qualified projects; (2) to guarantee or purchase insurance or other credit enhancement for bonds of qualified borrowers issued to finance the costs of qualified projects; (3) to provide reserves for or otherwise secure bonds issued pursuant to this subchapter and to provide insurance or other credit enhancement for such bonds; (4) to provide a subsidy for, or to otherwise assist, qualified borrowers in the payment of debt service costs on loans made by the Program; (5) to provide reserves for, or to otherwise secure, amounts payable by qualified borrowers on loans made by and leases with the Program in the event of default by a particular qualified borrower or, on a parity basis, by any qualified borrower; (6) to earn interest on the Fund; and (7) for the costs of administering the Program; provided, however, that not more than two percent of the federal funds contributed to the Program pursuant to section 350 of the NHS Act may be expended for such administrative costs.   (b) For necessary and convenient administration of the Fund, the Program shall establish the highway account and the transit account, as provided in section 280n of this title, and one or more additional accounts and sub-accounts within the Vermont Economic Development Authority as shall be necessary to meet the requirements of the NHS Act and any other applicable federal law requirements or as the program shall otherwise deem necessary or desirable in order to implement the provisions of this subchapter or to comply with any trust agreement. The Program may also establish in any trust agreement or otherwise, as the Secretary shall determine, one or more other funds and accounts for revenues and other funds not required to be held in the Program, and to apply and disburse such funds for the purposes of the Program. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280j
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280j. Powers and duties of the Secretary

§ 280j. Powers and duties of the Secretary|The Secretary is authorized and directed to take all necessary or incidental actions to secure for the State the benefits of ISTEA and the NHS Act, and any similar programs, including exercise of the powers:  (1) to cooperate with appropriate federal agencies in all matters related to the administration of the Program as contemplated by 23 U.S.C. § 129(a)(7) and section 350 of the NHS Act; (2) to prepare and submit to the appropriate federal agencies applications for grants and to enter into grant agreements, cooperative agreements, operating agreements, and other agreements with the United States relating to the purposes of the Program; and (3) to prepare and submit to the appropriate federal agencies and the Vermont General Assembly, annual and other reports and audits, in form and content satisfying federal requirements, relating to the Program. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280k
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280k. Powers and duties of the Program

§ 280k. Powers and duties of the Program|The Program is authorized and directed to take all necessary or incidental actions to secure for the State the benefits of ISTEA and the NHS Act, and any similar programs, including exercise of the powers:  (1) to establish and collect such fees, charges, and interest rates in compliance with federal requirements and as the Board determines to be reasonable, and to hold, apply and disburse such funds within or without the Program to implement the purposes of this subchapter; (2) to establish, jointly with the Authority, fiscal controls and accounting procedures for the Program. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280l
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280l. Applications for financial assistance

§ 280l. Applications for financial assistance|(a) Any qualified borrower may file an application with the Board to obtain financial assistance from the Program. The application shall be filed in such manner and contain or be accompanied by such information as the Program may require.(b) In addition to other requirements prescribed by the Board, an application shall:  (1) describe the nature and purpose of the proposed transportation project, including the need for the project and the reasons why the project is in the public interest; (2) state the estimated costs of the project and the proposed sources of funding, if any, in addition to the financial assistance being sought from the Program; (3) state the economic development benefit; (4) demonstrate that the project has the support of the regional planning commission or the metropolitan planning organization, as the case may be, in which the project is located, which support shall not be given unless the project is in conformance with the regional plan; (5) demonstrate conformance with Agency of Transportation design standards and level of improvement policies; and (6) demonstrate that the public benefits of the project outweigh its public costs.   (c) Before any financial assistance under this chapter is approved for an Agency of Transportation project, the applicant shall demonstrate that:  (1) the project is part of the State's current year transportation capital program approved by the General Assembly under 19 V.S.A. § 10g(c); or (2) if the Legislature is not in session, the project is approved by a committee, composed of the Joint Fiscal Committee, the Chair of the House Committee on Transportation or designee, and the Chair of the Senate Committee on Transportation or designee. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280m
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280m. Loan and lease terms

§ 280m. Loan and lease terms|(a) The Board shall determine the form and content of any borrower obligation, including the term and rate or rates of interest on any loan or lease.(b) Notwithstanding subsection (a) of this section, loans and leases financed through the application of federal monies pursuant to 23 U.S.C. § 129 or section 350 of the NHS Act shall:  (1) bear interest at or below market rates or otherwise as may be specified therein; (2) have a repayment term of not longer than 30 years; (3) be subject to repayment commencing not later than five years after the facility financed with the proceeds of such loan has been completed or, in the case of a highway project, the facility has opened to traffic; and (4) be made only after all federal environmental requirements applicable to the qualified project have been complied with and all federal environmental permits obtained.   (c) Notwithstanding any provisions of this subchapter to the contrary, the Secretary may waive any of the requirements contained in this section if such waiver would not cause the loan or the Program to violate the requirements of ISTEA or the NHS Act or any other applicable federal requirement. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280n
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280n. Program Fund; accounts

§ 280n. Program Fund; accounts|(a) A State Infrastructure Bank Program Fund is created as a special fund subject to the provisions of 32 V.S.A. chapter 7, subchapter 5. The Fund shall be administered by the Authority for the purposes of the Program, in accordance with the provisions of this subchapter.(b) The State Infrastructure Bank Program Fund shall receive funds from the following sources:  (1) any amounts required under section 350 of the NHS Act or any other federal law or program to be deposited in the highway account and such funds shall not be commingled with any other amounts on deposit in the Program; (2) any amounts required under section 350 of the NHS Act or any other federal law or program to be deposited in the transit account and such funds shall not be commingled with any other amounts on deposit in the Program; (3) any other State or federal funds appropriated for the Program by the General Assembly, any repayments of principal and interest of Program loans, any private monies related to the administration and operation of the Program; (4) any grants received for the benefit of the Program.   (c) Notwithstanding 32 V.S.A. § 588(4)(A), monies may be disbursed from the Fund for Program purposes without an annual appropriation.(d) The liabilities or obligations of the Authority with regard to its activities under the Program shall not extend beyond the funds that are deposited in the State Infrastructure Bank Program Fund, and shall not constitute a debt or pledge of the faith and credit of the State or any subdivision of the State.(e) Any monies held in the Program shall be used solely as provided in this subchapter, subject to the applicable federal requirements.(f) Expenditures from the Program shall be made for the following purposes:  (1) for the payment of the principal, including sinking fund payments of and premium, if any, and interest on bonds of the Authority in connection with the Program, as described in section 280o of this title, issued for the purpose of financing or refinancing any cost of a qualified project; (2) for providing financial assistance to qualified borrowers to finance qualified projects; (3) for the maintenance of, or provision for, any reserves, additional security, insurance, or other form of credit enhancement required or provided for in any trust agreement entered into pursuant to section 280q of this title to secure such bonds; and (4) administration costs of the Program or for any of the foregoing. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280o
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280o. Issuance of revenue bonds

§ 280o. Issuance of revenue bonds|(a) The Authority may issue bonds to finance or refinance any cost of a qualified project or provide other financial assistance, the proceeds of which are to be deposited in the Program, or used to refinance existing obligations (whether obligations of the Authority or another entity), used to fund the cost of a qualified project.(b) Such bonds shall be special revenue bonds of the State payable solely from revenues, credited to the Program.(c) Notwithstanding the provisions of any law to the contrary, such bonds shall not be general obligations of the State.(d) Bonds may be issued provided that such issuance meets the requirements of section 244 and subsections 254(b), (c), (d), (f), and (g) of this title.(e) Sections 250, 252, and subsections 253(b), (c), and (d) of this title shall also apply to bonds issued under this subchapter, except that any reference to industrial facilities therein shall also apply to eligible projects under this subchapter.(f) Bonds may be secured by a trust agreement entered into by the Authority, which trust agreement may pledge or assign, in whole or in part, any loan agreements or governmental obligations, and all or any part of the monies credited to the Program, subject to applicable federal requirements, and any funds or accounts established under a trust agreement, any contract or other rights to receive the same, whether then existing or coming into existence and whether then held or thereafter acquired, and the proceeds thereof. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280p
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280p. Additional security agreements, insurance, and credit enhancements

§ 280p. Additional security agreements, insurance, and credit enhancements|The Authority is also authorized to enter into additional security, insurance, or other forms of credit enhancement that may be secured on a parity or subordinate basis with the bonds. A pledge in any such trust agreement or credit enhancement agreement shall be valid and binding from the time such pledge shall be made without any physical delivery or further act, and the lien of such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise, irrespective of whether such parties have notice thereof. Any such pledge shall be perfected by filing of the trust agreement or credit enhancement agreement in the records of the Authority, and no filing need be made under any other provision of law. Any such trust agreement or credit enhancement agreement may establish provisions defining defaults and establishing remedies and other matters relating to the rights and security of the holders of the bonds or other secured parties as determined by the Authority, including provisions relating to the establishment of reserves, the issuance of additional or refunding bonds, whether or not secured on a parity basis, the application of receipts, monies, or funds pledged pursuant to such agreement, hereinafter referred to as "pledged funds," and other matters deemed necessary or desirable by the Authority for the security of such bonds, and may also regulate the custody, investment, and application of monies. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280q
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280q. Loans to qualified borrowers to finance qualified projects

§ 280q. Loans to qualified borrowers to finance qualified projects|(a) Any qualified borrower may apply to the Program for a loan to assist in financing the cost of a qualified project. At the option of the Board, and subject to applicable federal requirements, a loan may be made as secured loans or as unsecured general obligations of a qualified borrower. Each loan shall be made pursuant to a loan agreement between the Program and the qualified borrower acting by and through the officer or officers, board, committee, or other body authorized by law, or otherwise its chief executive officer.(b) A qualified borrower may receive, apply, pledge, assign, and grant security interests in project revenues, and, in the case of a governmental unit, its general revenues to secure its obligations under loan agreements and borrower obligations as provided in this subchapter and may fix, revise, charge, and collect fees, rates, rents, assessments, and other charges of general or special application for the operation or services of any qualified project, the system of which it is a part and any other revenue producing facilities from which the qualified borrower derives project revenues to meet its obligations under any loan agreements or borrower obligation, or otherwise to provide for the construction, maintenance, and operation of a qualified project.(c) For the purposes of entering into a loan and establishing the authorized terms and conditions thereof and for issuing any government obligations, a governmental unit shall be deemed to have the powers expressly granted to governmental units in this subchapter and the powers granted to the governmental unit in any bond act applicable to it specifically or as a member of a class of governmental instrumentalities. Liberal construction shall be given in support of the broadest interpretation of governmental unit powers derived from either this subchapter or any bonds act, provided that nothing in this subchapter shall be construed as affecting the manner of voting and other procedures of any governmental unit by the governing body thereof or any limitations on indebtedness of governmental units. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280r
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280r. Powers and privileges of government units

§ 280r. Powers and privileges of government units|In order to provide for the collection and enforcement of fees, rates, rents, assessments, and other charges for the operation of any qualified project, the system of which it is a part and any other revenue producing facilities from which the governmental unit derives project revenues, in addition to any other authority provided by law or any applicable bond act, governmental units are hereby granted all the powers and privileges granted to them by law with respect to any similar fee, rate, rent, assessment, or other charge. Any governmental unit may enter into agreements with the Agency:  (1) regarding the operation of a pricing system for the services producing facilities from which the governmental unit derives project revenues. Such agreements may include provisions defining the costs of such services, the qualified project and such local system and other facilities, and covenants or agreements regarding the fixing and collection of fees, rates, rents, assessments, and other charges for such costs and the maintenance of such pricing system at levels sufficient to pay or provide for all such costs and any payments due the department under any loan agreement or governmental obligations; (2) regarding the operation of an enterprise fund established for any qualified project, and the system of which it is a part and any other revenue producing facilities from which the governmental unit derives project revenues. Such agreements may include fiscal and accounting controls and procedures, provisions regarding the custody, safeguarding, and investment of project revenues and other amounts credited thereto, the establishment of reserves and other accounts and funds and the application of any surplus funds. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280s
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280s. Borrower obligations

§ 280s. Borrower obligations|(a) Subject to the provisions of this subchapter, governmental obligations issued by a governmental unit shall conform to the requirements of subchapter 4 of this chapter.(b) Notwithstanding any law to the contrary, if a governmental unit has authorized a loan in accordance with this subchapter and the issuance of governmental obligations under any bond act, the governmental unit may, subject to the loan agreement and the approval of the Board, issue notes to the Authority or any other person in anticipation of the receipt of the proceeds of the loan. The issue of such notes shall be governed by the provisions of this subchapter relating to the issue of governmental obligations other than notes, to the extent applicable, provided the maturity date of such notes shall not exceed three years from the date of issue of such notes or the expected date of completion of the project financed thereby, as determined by the Board, if later. Notes issued for less than the maximum maturity date may be renewed by the issue of other notes maturing no later than the maximum maturity date.(c) A governmental unit may issue governmental obligations to refund or pay at maturity or earlier redemption any governmental obligations outstanding under any loan agreement or to refund or pay any other debt of the governmental unit issued to finance the qualified project to which such loan agreement pertains. Governmental obligations for refunding may be issued in sufficient amounts to pay or provide for the principal of the obligations refunded, any redemption premium thereon, any interest accrued and to accrue to the date of payment of such obligations, the costs of issuance of such refunding obligations and any reserves required by the applicable loan agreement. An issue of refunding governmental obligations, the amount and dates of maturity or maturities and other details thereof, the security thereof and the rights, duties, and obligations of the governmental unit with respect thereto shall be governed by the provisions of this subchapter relating to the issue of governmental obligations other than refunding obligations as the same may be applicable.(d) Except as otherwise provided in this subchapter, the applicable bond act, or by agreement between the Board and a governmental unit, all governmental obligations shall be general obligations of the governmental unit issuing the same for which its full faith and credit are pledged and for the payment of which all taxable property in the governmental unit shall be subject to ad valorem taxation without limitation as to rate or amount except as otherwise provided by law. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280u
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280u. Guarantees; other credit enhancement

§ 280u. Guarantees; other credit enhancement|(a) The Board may provide guarantees secured solely by, or purchase of insurance or other enhancements through, amounts on deposit in the program, to qualified borrowers in accordance with the provisions of this section.(b) All of the assets and obligations directly covered by guarantees or other forms of credit enhancement shall be assets or obligations of governmental units or private entities that are, without guarantee or enhancement, listed by a nationally recognized statistical rating organization at a rating not below the third highest rating of such organization.(c) The assets and obligations that may be directly covered by guarantees issued by the Board are:  (1) bonds, debentures, notes, evidence of debt, loans, and interest therein, of qualified borrowers, the proceeds of which are to be used for a qualified project; and (2) leases of personal, real, or mixed property to be used for a qualified project.   (d) The Program may charge and collect premiums or other fees for the guarantees or other credit enhancement provided pursuant to this subchapter, including fees for services performed in connection with the approval and processing of the guarantees or the credit enhancement provided pursuant to this subchapter. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280v
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280v. Termination of the Program; remaining assets and liabilities

§ 280v. Termination of the Program; remaining assets and liabilities|The Program shall continue until terminated by law; provided, however, that no such law shall take effect so long as there shall be outstanding bonds secured by the fund unless adequate provision has been made for the payment or satisfaction thereof. Upon termination of the Program, assets that remain after provision for the payment or satisfaction of all bonds issued pursuant to this subchapter shall vest in the State, in the Transportation Fund and General Fund in equal proportion to the percentages of funds initially invested in the bank. For the purpose of this section only, federal transportation funds invested in the bank shall be considered State transportation funds. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280w
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280w. Records of receipts, expenditures, and disbursements

§ 280w. Records of receipts, expenditures, and disbursements|The Authority, in cooperation with the Agency, shall at all times keep full and accurate accounts of all receipts, expenditures, and disbursements from the Program and all assets and liabilities of the Program incurred pursuant to this subchapter that shall be open to inspection by any officer or duly appointed agent of the State. (Added 1997, No. 43, § 1.)