§ 280aa. Findings and purpose
§ 280aa. Findings and purpose (a)(1) Vermont-based businesses in seed, start-up, and growth stages are a vital source of innovation, employment, and economic growth in Vermont. The continued development and success of these businesses is dependent upon the availability of flexible, risk-based capital. (2) Because the primary assets of Vermont-based businesses in seed, start-up, and […]
§ 280bb. Vermont Entrepreneurial Lending Program
§ 280bb. Vermont Entrepreneurial Lending Program (a) There is created the Vermont Entrepreneurial Lending Program to be administered by the Vermont Economic Development Authority. The Program shall seek to meet the working capital and capital-asset financing needs of Vermont-based businesses in seed, start-up, and growth stages. The Program shall specifically seek to fulfill capital requirement […]
§ 280cc. Creation; purpose; definitions
§ 280cc. Creation; purpose; definitions (a) There is established within the Authority the Vermont Sustainable Energy Loan Fund, referred to in this subchapter as “the Fund,” the purpose of which shall be to enable the Authority to make loans and provide other forms of financing for projects that stimulate and encourage development and deployment of […]
§ 280dd. Loan programs administered within the Fund
§ 280dd. Loan programs administered within the Fund (a) The Fund shall consist of: (1) Existing sustainable energy loans made by the Authority, the Vermont Small Business Development Corporation, and the Vermont Agricultural Credit Corporation. (2) Sustainable energy loans originated under the following programs: (A) The Small Business Energy Efficiency Loan Program, under which the […]
§ 280ee. Broadband Expansion Loan Program
§ 280ee. Broadband Expansion Loan Program (a) Creation. There is established within the Authority the Vermont Broadband Expansion Loan Program, the purpose of which is to enable the Authority to make loans that expand broadband service to unserved and underserved Vermonters as part of a plan to achieve universal broadband coverage in a municipality or […]
§ 280ff. Funding
§ 280ff. Funding (a) The State Treasurer, in consultation with the Secretary of Administration, shall negotiate an agreement with the Authority incorporating the provisions of this section and consistent with the requirements of this subchapter. (b) State appropriations to the Authority are based on the Authority’s contributions to loan loss reserves for the Program in […]
§ 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 […]
§ 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 […]
§ 280x. Obligations; credit of the State not pledged
§ 280x. Obligations; credit of the State not pledged Obligations issued under the provisions of this subchapter shall not be deemed to constitute a debt or liability of the State. Each obligation issued under this subchapter shall contain on the face thereof a statement to the effect that the Authority shall not be obligated to […]
§ 280y. Public records
§ 280y. Public records The Authority shall establish policies and procedures to ensure that information relating to the cost of any qualified project is considered a public record, and subject to the provisions of 1 V.S.A. chapter 5, subchapter 2. (Added 1997, No. 43, § 1.)