§ 5275 - Payment or refunding of notes - Vermont Statutes

§ 5275. Payment or refunding of notes

The authority may from time to time issue its notes under this chapter and pay and retire or fund or refund the notes from the proceeds of bonds or of other notes, or from any other funds or moneys of the authority available for that purpose in accordance with any contract between the authority and the holders of the notes. Unless provided otherwise in any contract between the authority and the holders of notes, and unless the notes are otherwise paid, funded or refunded, the proceeds of any bonds of the authority issued among other things, to fund any outstanding notes, shall be held, used and applied by the authority to the payment and retirement of the principal of the notes and the interest due and payable thereon. (Added 1999, No. 121 (Adj. Sess.), § 1.)