§ 6008 - Rules and rates - Vermont Statutes

§ 6008. Rules and rates

(a) The authority may make and enforce rules and regulations which it deems necessary or desirable. It may charge and collect or may authorize by contract, franchise, lease, or otherwise, the charging and collection of rents, rates and other charges:

(1) for the services afforded by the authority or afforded by or in connection with any project or properties which it may construct, erect, acquire, own, operate, or control, or with respect to which it may have any interest or right to capacity thereof, and

(2) for the sale of electric energy or of generation or transmission capacity or service.

(b) Rents, rates, and other charges shall be sufficient to meet the expenses of the authority, including operating and maintenance expenses, reasonable reserves, interest, and principal payments, including payments into one or more sinking funds for the retirement of principal, and other requirements of any trust agreement or resolution securing bonds or notes. The authority may pledge its rates, rents, and other revenues, or any part of them, as security for the repayment, with interest and redemption premiums, if any, of any moneys borrowed by it or advanced to it for any of its authorized purposes and as security for the payment of amounts due and owing by it under any contract.

(c) In determining rates to be charged by the authority, the public service board shall allow a reasonable rate of return as in the case of municipal electric utilities. (Added 1981, No. 202 (Adj. Sess.), § 2(g), eff. April 25, 1982.)