§ 4680. Application of funds; excess
§ 4680. Application of funds; excess Money or investments in any fund or account of the Bank established or held for any bonds, notes, indebtedness, or liability to be paid, funded, or refunded by issuance of bonds or notes shall, unless the resolution authorizing the bonds or notes provides otherwise, be applied to the payment […]
§ 4681. Revenue Bond Reserve Fund
§ 4681. Revenue Bond Reserve Fund (a) The Bank shall establish and maintain a special fund called the “Vermont Municipal Bond Bank Revenue Bond Reserve Fund” in which there shall be deposited: (1) all monies appropriated by the State for the purpose of such Fund; (2) all proceeds of bonds required to be deposited therein […]
§ 4682. Investment of Revenue Bond Reserve Fund
§ 4682. Investment of Revenue Bond Reserve Fund (a) Monies at any time in the Revenue Bond Reserve Fund may be invested in the same manner as permitted for investment of funds belonging to the State or held in the Treasury. (b) For purposes of valuation, investments in the Revenue Bond Reserve Fund shall be […]
§ 4683. Revenue Fund
§ 4683. Revenue Fund (a) The Bank shall establish and maintain a fund called the “Revenue Fund” in which there shall be deposited: (1) fees received or charges made by the Bank for use of its services or facilities; (2) any monies that the Bank shall transfer thereto pursuant to section 4672 of this title […]
§ 4684. Revenue Fund operating expenses
§ 4684. Revenue Fund operating expenses No amount may be paid out of the Revenue Fund or from any account therein, which account the Bank may establish therein for the purpose of payment of its operating expenses, for operating expenses of the Bank in any year in excess of the amount provided for the operating […]
§ 4685. Special accounts in Revenue Fund
§ 4685. Special accounts in Revenue Fund The Bank may establish in the Revenue Fund accounts, subaccounts, or special accounts which in its opinion are necessary, desirable, or convenient for its purposes. (Added 1987, No. 55, § 29, eff. May 15, 1987.)
§ 4676. General Fund
§ 4676. General Fund (a) The Bank shall establish and maintain a fund called the “General Fund” in which there shall be deposited: (1) Fees received or charges made by the Bank for use of its services or facilities; (2) Any monies which the Bank shall transfer thereto from the reserve fund pursuant to section […]
§ 4677. Operating expenses
§ 4677. Operating expenses No amount may be paid out of the General Fund or from any account therein, which account the Bank may establish therein for the purpose of payment of its operating expenses, for operating expenses of the Bank in any year in excess of the amount provided for the operating expenses of […]
§ 4678. Special accounts
§ 4678. Special accounts The Bank may establish in the General Fund accounts, subaccounts or special accounts that in its opinion are necessary, desirable, or convenient for its purposes. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970.)
§ 4679. Additional accounts
§ 4679. Additional accounts The Bank may establish additional reserves or other funds or accounts as may be, in its discretion, necessary, desirable, or convenient to further the accomplishment of its purposes or to comply with the provisions of any of its agreements or resolutions. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March […]