§ 774 - Approval of governor - Vermont Statutes

§ 774. Approval of governor

No resolution or other action of the authority providing for the issuance of bonds or notes may be adopted or otherwise made effective without the prior approval in writing of the governor and the state treasurer. The powers conferred by this section on the governor and the state treasurer shall be exercised with due regard for the rights of the holders of bonds or notes of the authority at any time outstanding, and nothing in, or done pursuant to, this section shall in any way limit, restrict or alter the obligation or powers of the authority or any member, officer or representative of the authority to carry out and perform in every detail each and every covenant, agreement or contract at any time made or entered into by or on behalf of the authority with respect to its bonds or for the benefit, protection, or security of the holders. (Added 1973, No. 14, § 2, eff. Feb. 23, 1973.)