reglab/housing_qa huggingface dataset:
10 V.S.A. § 233
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 233. Depressed areas

§ 233. Depressed areas|The Authority shall give preference to the areas within labor market districts declared to be economically depressed areas as defined by the Vermont Agency of Commerce and Community Development or the Vermont Department of Labor, or to the area that is a designated job development zone under chapter 29, subchapter 2 of this title. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1981, No. 66, § 5(a), eff. May 1, 1981; 1985, No. 172 (Adj. Sess.), § 2; 1995, No. 190 (Adj. Sess.), § 1(a); 2005, No. 103 (Adj. Sess.), § 3, eff. April 5, 2006.)
10 V.S.A. § 236
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 236. Taxes

§ 236. Taxes|(a) While a part of a building or industrial park owned by a local development corporation and subject to a mortgage to the Authority or the State of Vermont under this subchapter remains unoccupied, that portion that remains unoccupied shall be exempt from all taxes and special assessments of the State or a municipality. Instead of taxes, payments shall be made by the local development corporation to the municipality in which the speculative building or industrial park is located for highway maintenance, fire protection, or for other services.(b) Any property to which the Authority holds title by reason of foreclosure upon a mortgage or other security given by a local development corporation in connection with a loan made under this subchapter, or voluntary conveyance in lieu thereof, shall, as long as it is not leased or rented, be exempt from all taxes and special assessments of the State and all local municipal property taxes for the remaining balance of the tax year in which title becomes vested in the Authority and the entire next succeeding year, provided however, that thereafter the Authority shall pay 50 percent of the local municipal property taxes annually assessed against such property during the term of the Authority's ownership. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1977, No. 52, § 9, eff. April 22, 1977; 1981, No. 54, § 14, eff. April 28, 1981.)
10 V.S.A. § 237
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 237. Issuing of loans for industrial park planning and development projects

§ 237. Issuing of loans for industrial park planning and development projects|Before issuing any loan under this subchapter for industrial park planning and development, and the purchase of land in connection therewith, the Authority shall determine and incorporate in its minutes the findings that:  (1) The proposed industrial park is on adequate land owned or to be owned by the local development corporation or leased by the local development corporation on terms satisfactory to the Authority. (2) An adequate access road from a public highway is provided to the proposed site, and utilities, including water, sewer, and power facilities, are available or will be available for any future tenant located in the park. (3) The total industrial park will be planned by architects and engineers acceptable to the Authority. (4) No more than 80 percent of the fair market value of the industrial park, as shown by appraisal by an appraiser acceptable to the Authority, is to be financed under the loan. (5) The park project is within the scope of this chapter, will be of public use and benefit, and may reasonably be expected to create new employment opportunities. (6) The park project complies with all applicable environmental, zoning, planning and sanitary laws and regulations of the municipality in which it is to be located and of the State of Vermont. (7) The local development corporation is responsible and has presented evidence to demonstrate its ability to carry out the park project as planned. (8) Evidence has been presented demonstrating the feasibility of the site as a location for industry, and additional evidence has been presented that an adequate supply of labor is available within the labor market area to serve an industry located on the site. (9) The park project will be without unreasonable risk of loss to the Authority, and the local development corporation is unable to secure on reasonable terms the funds required for the project without the assistance of the Authority. Such findings when adopted by the Authority shall be conclusive. (Added 1973, No. 197 (Adj. Sess.), § 1.)
10 V.S.A. § 241
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 241. Powers of municipalities

§ 241. Powers of municipalities|Municipalities shall have the following powers in addition to any other powers given them by law:  (1) To engage in projects under this subchapter within the municipality or partially within the municipality but entirely within the State, to acquire ownership or possessory interests in eligible facilities and related property, and to dispose of them; (2) To issue bonds to pay project costs, or to reimburse a user or a related person for payments for project costs made before or after the bonds are issued, or to refund bonds previously issued; (3) To execute financing documents and security documents and to perform obligations and exercise powers created by them; (4) In the event of default by a user under a financing document, but only to the extent authorized by the financing document or security document, to dispose of all or part of the eligible facility by sale or otherwise for the benefit of the bondholders under the security document; (5) To make contracts or take any other action that is necessary or desirable in connection with the exercise of the foregoing powers. Nothing in this chapter shall be construed to authorize a municipality to operate an eligible facility itself or to conduct any business enterprise with it. (6) To acquire and to enter into commitments to acquire any federally guaranteed security and to pledge or otherwise use any such federally guaranteed security in such manner as the Authority shall approve to secure or otherwise provide a source of repayment on any of its bonds or to enter into any appropriate agreement with one or more users whereby the municipality may make a loan to any such user for the purposes of enabling such user to fund or refund directly or indirectly, the cost of acquiring or entering into commitments to acquire any federally guaranteed security; provided, however, that the federally guaranteed security is evidence of a federally insured project loan or, if not such evidence, that the Authority determines that the federally guaranteed security has been issued to pass through a federally insured project loan. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 8, eff. March 27, 1975; 1981, No. 54, § 8, eff. April 28, 1981; 1993, No. 89, § 3(b), eff. June 15, 1993.)
10 V.S.A. § 242
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 242. Financing documents

§ 242. Financing documents|(a) A financing document shall:  (1) provide for payments by the user at such times and in such amounts as are necessary in order to pay the debt service on all bonds issued to finance the project as they become due; and (2) obligate the user to pay all the costs and expenses of operation, maintenance, upkeep, and insurance of the eligible facility.   (b) A financing document may:  (1) provide for payments by the user that include amounts in addition to the amounts required to pay debt service; (2) obligate a user to make payments before the eligible facility exists or becomes functional and to make payments after the eligible facility has ceased to exist or be functional to any extent and from any cause whatsoever; (3) obligate a user to make payments regardless of whether the user is in possession or is entitled to be in possession of the eligible facility; (4) allocate responsibility between the municipality and the user for making purchases and contracts required for the project; (5) contain an option for the user to acquire any ownership or possessory interest that the municipality may have in the eligible facility for nominal consideration upon payment of the bonds or upon the user's making adequate and secure provision for their payment and provide for the automatic transfer of the municipality's interest in the facility upon the effective exercise of the option; (6) provide that some or all of the user's obligations shall be unconditional and shall be binding and enforceable in all circumstances whatsoever notwithstanding any other provision of law; and (7) contain such other provisions and covenants relating to the use, maintenance, repair, insurance, and replacement of the eligible facility as the municipality and the user deem necessary for the protection of themselves or others. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 9, eff. March 27, 1975; 1993, No. 89, § 3(b), eff. June 15, 1993.)
10 V.S.A. § 243
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 243. Security documents

§ 243. Security documents|(a) An assignment, pledge, mortgage or other encumbrance of all or part of a municipality's right to receive payments with respect to an eligible facility contained in a security document shall be fully effective from the time when the security document is executed with or without any subsequent physical delivery or segregation of the money and without any filing or recording under the Uniform Commercial Code or otherwise.(b) A security document may contain covenants of the municipality as to:  (1) the creation and maintenance of reserves; (2) the issuance of other bonds with respect to the eligible facility; (3) the custody, investment and application of monies; (4) the disposition of insurance or condemnation proceeds; (5) the use of surplus bond proceeds; (6) action by the municipality in the event of a default by the user under the financing document; (7) the subjecting of additional property to the lien of the security document; (8) any other matter which affects the security for the bonds in any way; (9) pledging any federally guaranteed security and monies received therefrom whether such security is acquired by the municipality or by a user to secure the payment of the bonds.   (c) A security document may limit the rights of bondholders to enforce obligations of the municipality thereunder or under the financing document. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 10, eff. March 27, 1975; 1981, No. 54, § 10, eff. April 28, 1981; 1993, No. 89, § 3(b), eff. June 15, 1993.)
10 V.S.A. § 244
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 244. Bonds

§ 244. Bonds|(a) Bonds authorized under this subchapter may, without limitation, be issued:  (1) in one or more series of one or more denominations and bearing one or more rates of interest; (2) in bearer form or registered form with or without privileges of conversion and reconversion from one form to the other; (3) payable in serial installments or as term bonds, and any series may consist of both types of bonds, provided that all of the bonds of every series shall mature no later than 40 years after their dates; and (4) subject to redemption prior to maturity, with or without the payment of any redemption premium, in accordance with the provisions of the security document.   (b) Bonds shall bear the manual signature of the treasurer of the municipality and the manual or facsimile signature or signatures of the mayor or a majority of the selectboard or trustees as the case may be. Interest coupons, if any, shall bear the facsimile signature of the treasurer. If the municipality has a corporate seal, bonds shall bear the seal or a facsimile of the seal. Bonds executed in accordance with this subchapter shall be valid notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon shall have ceased to hold office.(c) Every bond shall bear a statement on its face that it does not constitute an indebtedness of the municipality except to the extent permitted by this subchapter. Bonds may be sold at public or private sale by the officers authorized to sign them. The price at which bonds are sold may be par or may be more or less than par, but the original purchaser of the bond shall be obligated to pay accrued interest for the period, if any, from the date of the bonds to the date of delivery. All bonds issued under this subchapter and interest coupons applicable thereto, if any, shall be deemed to be negotiable instruments and to be investment securities under the Uniform Commercial Code.(d) No purchaser of bonds shall be in any way bound to see to the proper application of the proceeds thereof. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 11, eff. March 27, 1975.)
10 V.S.A. § 245
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 245. Municipal proceedings

§ 245. Municipal proceedings|All actions of a municipality in the exercise of its powers with respect to a project and the financing thereof shall be authorized by resolution adopted by majority vote of all of the members of its governing body. Unless otherwise provided in the resolution, or in the city charter in the case of a city, each resolution shall take effect upon its passage. The terms and details of any transaction may be delegated by the governing body to those authorized by the governing body to enter into the transaction on behalf of the municipality. (Added 1973, No. 197 (Adj. Sess.), § 1.)
10 V.S.A. § 247
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 247. Obligations of the municipality

§ 247. Obligations of the municipality|No financing or security document, bond, or other instrument issued or entered into under this subchapter shall in any way obligate a municipality to use its taxing power for any purpose in relation to an eligible facility financed under this subchapter. No municipality may pay or promise to pay any debt or meet any financial obligation to any person at any time in relation to an eligible facility financed under this subchapter, except from monies received or to be received under the provisions of a financing or security document entered into under this subchapter or except as may be required by other provisions of law. Bonds issued under the subchapter shall not be deemed indebtedness of the municipality for the purposes of any debt limit. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 13, eff. March 27, 1975; 1993, No. 89, § 3(b), eff. June 15, 1993.)
10 V.S.A. § 248
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 248. Trustees and trust funds

§ 248. Trustees and trust funds|A state or national chartered bank, Vermont bank, or Vermont trust company may serve as trustee for the benefit of bondholders under a security document; and the trustee may at any time own all or any part of the bonds issued under that security document, unless otherwise provided therein. All monies received or held by a municipality or by a trustee pursuant to a financing or security document, other than funds received or held by the municipality for its own use, shall be deemed to be trust funds and shall be held and applied solely in accordance with the applicable document, but the person paying the money to the municipality or the trustee shall not be in any way bound to see to its proper application. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 14, eff. March 27, 1975.)
10 V.S.A. § 249
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 249. Remedies

§ 249. Remedies|Except as provided in any financing or security document entered into or any bond issued under this subchapter, each of the parties to the financing or security document or any bondholder may enforce the obligation of any other person to him or her under the bond or instrument by appropriate legal proceedings in a court of competent jurisdiction. A receiver may be appointed for an eligible facility in any such proceeding. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 15, eff. March 27, 1975; 1993, No. 89, § 3(b), eff. June 15, 1993.)
10 V.S.A. § 250
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 250. Bonds exempt from taxation

§ 250. Bonds exempt from taxation|All bonds issued under this subchapter and the income therefrom shall be exempt from taxation by the State of Vermont and all of its political subdivisions, agencies, or instrumentalities, except that bonds shall not be exempt from inheritance, transfer, and estate taxes or taxes in the nature thereof. (Added 1973, No. 197 (Adj. Sess.), § 1.)
10 V.S.A. § 251
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 251. Taxation of eligible facilities

§ 251. Taxation of eligible facilities|All real and personal property comprising an eligible facility financed under this subchapter shall be set in the grand list and taxed to the tenant of the facility as if the tenant were the owner of the property in fee. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1993, No. 89, § 3(b), eff. June 15, 1993.)
10 V.S.A. § 252
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 252. Bonds eligible for investment

§ 252. Bonds eligible for investment|Bonds issued under this subchapter shall be legal investments for all persons without limit as to the amount held, regardless of whether they are acting for their own account or in a fiduciary capacity; such bonds shall likewise be legal investments for all public officials authorized to invest public funds. No person offering to buy or sell or buying or selling the bonds shall be required to obtain any license or register any transaction in connection with them. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 16, eff. March 27, 1975.)
10 V.S.A. § 253
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 253. State projects

§ 253. State projects|(a) The State of Vermont may engage in projects within the state in accordance with the provisions of this subchapter. For the purposes of this section and section 254 of this title:  (1) The word "municipality" as used in the sections of this subchapter other than this section shall mean the "State of Vermont"; (2) The provisions of section 245 of this title shall not apply; and (3) The provisions of this subchapter other than this section and section 254 of this title shall, where appropriate, be deemed to be modified or superseded by the provisions of this section and section 254 of this title.   (b) For the purposes of engaging in a project, the Authority shall act in the name of the State and on its behalf as its agent and instrumentality for the execution of financing documents, security documents, bonds, and other appropriate instruments or for the taking of any action with respect to a project financed in whole or in part by the issue of bonds under section 254 of this title.(c) Title to or possessory interest in any eligible facility that is financed in whole or in part by the issue of bonds pursuant to section 254 of this title may be taken and held in the name of the State. In performing its functions under this section, the Authority may exercise any and all powers conferred upon municipalities by this subchapter, but the Authority shall not execute any financing document, security document, or bond with respect to a project until the Authority has made the findings required by section 246 of this title.(d) The Authority shall establish guidelines for the type and location of projects that shall be considered in evaluating applications for financing under this subchapter. These guidelines shall be used to prioritize projects and shall include factors such as the number of permanent jobs created or retained; the wage rates of the jobs created; the availability and suitability of private market financing; the employment multiplier effect; the potential for alleviating unemployment in distressed areas; the potential effect on the revitalization of depressed commercial areas; the potential to stimulate markets for recycled materials to be used as raw materials; whether the project is located in the job development zone as designated under chapter 29, subchapter 2 of this title; and a potential for increasing capital investment. In the consideration of nonmanufacturing projects, priority shall be given to those projects located within areas suffering from the loss of commercial or service enterprises, loss of commercial or service sales, buildings with large vacancy rates, or physically deteriorating structures. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 17, eff. March 27, 1975; 1975, No. 187 (Adj. Sess.), § 2; 1983, No. 159 (Adj. Sess.), § 2, eff. April 14, 1984; 1985, No. 172 (Adj. Sess.), § 3; 1991, No. 202 (Adj. Sess.), § 10, eff. May 27, 1992; 1993, No. 89, § 3(b), eff. June 15, 1993.)