§ 4573. Removal from office; oath
§ 4573. Removal from office; oath Each director may be removed from office by the Governor, for cause, after a public hearing, and may be suspended by the Governor pending the completion of the hearing. Each director before entering upon his or her duties shall take and subscribe an oath to perform the duties of […]
§ 4574. Officers; quorum
§ 4574. Officers; quorum The directors shall elect one of their number as chair. The directors shall elect a secretary and a treasurer who need not be directors, and the same person may be elected to serve both as secretary and treasurer. The powers of the Bank are vested in the directors thereof and three […]
§ 4575. Bonding of members
§ 4575. Bonding of members Before the issuance of any bonds or notes under this chapter, each director of the Bank shall execute a surety bond in the penal sum of $25,000.00 and the treasurer of the Bank shall execute a surety bond in the penal sum of $50,000.00. Each surety bond shall be conditioned […]
§ 4576. Compensation; expenses
§ 4576. Compensation; expenses The directors of the Bank shall receive a per diem compensation in the amount of $30.00 for each day devoted to official duties and reimbursement for actual expenses necessarily incurred in the discharge of their duties. Notwithstanding any other law, an officer or employee of the State shall not be deemed […]
§ 4554. Administration expenses
§ 4554. Administration expenses All expenses incurred in carrying out this chapter are payable solely from revenues or funds provided under this chapter and nothing in this chapter authorizes the Bank to incur any indebtedness or liability on behalf of or payable by the State. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March […]
§ 4555. Duties of State Treasurer
§ 4555. Duties of State Treasurer (a) The State Treasurer may receive from the United States of America or any department or agency thereof any amounts of money as and when appropriated, allocated, granted, turned over, or in any way provided for the purposes of the Bank or this chapter, and the amounts shall be […]
§ 4556. Cooperation by government agencies; cost
§ 4556. Cooperation by government agencies; cost All officers, departments, boards, agencies, divisions, and commissions of the State must render any services to the Bank as are within the area of their respective governmental functions as fixed by law and as may be requested by the Bank and must comply promptly with any reasonable request […]
§ 4571. Establishment
§ 4571. Establishment There is hereby established a body corporate and politic, with corporate succession, to be known as the “Vermont Municipal Bond Bank.” The Bank is hereby constituted as an instrumentality exercising public and essential governmental functions, and the exercise by the Bank of the powers conferred by this chapter are deemed to be […]
§ 4571a. Reports
§ 4571a. Reports The Vermont Municipal Bond Bank shall prepare and submit, consistent with 2 V.S.A. § 20(a), a report on activities for the preceding calendar year, pursuant to section 4594 of this title. (Added 2003, No. 122 (Adj. Sess.), § 294i.)
§ 4551. Definitions
§ 4551. Definitions The following definitions shall apply throughout this chapter unless the context clearly requires otherwise: (1) “Bank” means the Vermont Municipal Bond Bank established by section 4571 of this title. (2) “Bonds” means bonds of the Bank issued under this chapter. (3) “County” means any county of the State. (4) “General Fund” means […]