§ 1821 - Definitions - Vermont Statutes

§ 1821. Definitions

When used in this subchapter:

(1) "Bond" means any bond or note issued by the municipal corporation and payable out of the net revenues from the operation of a public utility project.

(2) "Cost of operation and maintenance" shall mean the expenses for operation, maintenance, repairs and ordinary replacements properly and directly attributable to the operation or ordinary maintenance of the public utility project.

(3) "Net revenues" shall mean revenues less cost of operation and maintenance.

(4) "Project" shall mean an undertaking for the acquisition, construction, reconstruction, improvement, financing, enlargement, extension or betterment of any of the following public utility systems:

(A) Water systems or facilities as defined in chapter 89 of Title 24.

(B) Sewage disposal systems or facilities as defined in chapter 97 or 101 of Title 24.

(C) Systems or facilities for the generation, production, transmission, or distribution of gas (natural, artificial or mixed) for lighting, heating or power for public and private uses, as provided in chapter 79 of Title 30 or by charter or special act.

(D) Systems or facilities for the generation, production, transmission or distribution of electric energy, including the ownership, operation and management of a municipal plant as defined in section 2901 of Title 30 and other generation, production, transmission and distribution facilities located within and without the state.

(E) Systems, facilities and equipment for the collection, treatment or disposal of solid waste, including sanitary landfills, and the generation, transmission, distribution and sale of all products and forms of energy derived therefrom.

(5) "Revenues" mean all revenues, rates, fees, charges, rents or other income and receipts received by the municipal corporation from any source, or accrued to the municipal corporation, or any department, board or agency thereof, in connection with the management and operation of a public utility project or system, and shall also include any interest received on any monies or securities of the municipal corporation which are pledged to the payment of the municipal corporation's bonds, and any federal or state grants-in-aid with respect to such project or system. (Amended 1989, No. 111, § 5, eff. June 22, 1989.)