§ 3859. Exemptions from taxation
§ 3859. Exemptions from taxation (a) The creation of the Agency and the carrying out of its corporate purposes is in all respects for the benefit of the people of the State of Vermont and for the improvement of their education, health, welfare, and prosperity, and is a public purpose. The Agency will be performing […]
§ 3860. Remedies of bondholders
§ 3860. Remedies of bondholders (a) If the Agency defaults in the payment of principal of or interest on any of the bonds of any series after they become due, either at maturity or upon call for redemption, and the default continues for a period of 30 days, or if the Agency fails or refuses […]
§ 3861. Compensation of members and employees of Agency
§ 3861. Compensation of members and employees of Agency No officer, member, or employee of the Agency may receive, or be lawfully entitled to receive, any pecuniary profit from the operation of the Agency except reasonable compensation for services in effecting one or more of its purposes set forth under law. (Added 1966, No. 56 […]
§ 3862. Reports
§ 3862. Reports The Vermont Education and Health Buildings Finance Agency shall prepare and annually submit to the Governor a complete report listing all projects applied for, planned, in progress, and completed and a complete financial report duly audited and certified by a certified public accountant. (Added 1966, No. 56 (Sp. Sess.), § 14, eff. […]
§ 4000. Statement of policy
§ 4000. Statement of policy (a) The intent of this chapter is to make educational opportunity available to each student in each town on substantially equal terms, in accordance with the Vermont Constitution and the Vermont Supreme Court decision of February 5, 1997, Brigham v. State of Vermont. (b) [Repealed.] (Added 1997, No. 60, § […]
§ 4001. Definitions
§ 4001. Definitions As used in this chapter: (1) “Average daily membership” of a school district or, if needed in order to calculate the appropriate homestead tax rate, of the municipality as defined in 32 V.S.A. § 5401(9), in any year means: (A) The full-time equivalent enrollment of students, as defined by the State Board […]
§ 4002. Payment; allocation
§ 4002. Payment; allocation (a) State and federal funds appropriated for services delivered by the supervisory union and payable through the Agency shall be paid to the order of the supervisory union and administered in accordance with the plan adopted under subdivision 261a(4) of this title. Funding for special education services under section 2969 of […]
§ 3851. Definitions
§ 3851. Definitions (a) “Agency” means the Vermont Educational and Health Buildings Financing Agency. (b) “Facilities” means all or any part of any building, improvements to real property, equipment, furnishings, appurtenances, utilities, and other property, real or personal, determined by the Agency to be necessary or convenient in the operation of any eligible institution, including […]
§ 3852. Vermont Educational and Health Buildings Financing Agency; creation; members
§ 3852. Vermont Educational and Health Buildings Financing Agency; creation; members (a) A board of 13 members known as the Vermont Educational and Health Buildings Financing Agency is created. It is a body corporate and politic constituting a public instrumentality of the State. The State Treasurer or his or her designee and the Secretaries of […]
§ 3853. Powers
§ 3853. Powers The Agency may: (1) Sue and be sued. (2) Have a seal and alter it at pleasure. (3) Acquire property, both real and personal, in the name of the Agency, including leasehold and other interest in land necessary or convenient in the Agency’s determination for its corporate purposes, and hold, mortgage, and […]