About this bond issuance
Projects funded include the following:
Act 26, 2015 - State buildings, administration, human services, judiciary, commerce and community development, grant programs, University of Vermont maintenance, Vermont State Colleges maintenance, natural resources, military, public safety, agriculture, food and markets, Vermont rural fire protection, Vermont housing and conservation board, general assembly and public service.
Act 84, 2017 - State buildings, human services, judiciary, commerce and community development, grant programs, University of Vermont maintenance, Vermont State Colleges maintenance, natural resources, clean water initiatives, military, public safety, agriculture food and markets, Vermont rural fire protection, Vermont veterans' home, Vermont housing and conservation board.
ObligorThe obligor is the organization that holds ultimate responsibility for the bond issuance, and will ensure that investors get repaid.
State of Vermont
IssuerOften the obligor. However, sometimes issuers partner with an authorized conduit financing non-profit within their state or city to issue the bonds.
State of Vermont
AuthorityBefore an issuer can raise money for a project, they must first have the legal authority to do so. This authority is sometimes preceded by a general election, and awarded after the successful passing of a bond measure.
The Bonds are authorized to be issued by the State Treasurer, with the approval of the Governor, for various capital purposes of the State pursuant to Chapter 13 of Title 32 of the Vermont Statutes Annotated ("General Obligation Bond Law") and pursuant to specific Acts of the General Assembly. The following statutes and Acts of the General Assembly set forth the capital purposes of the State for which the proceeds of the Bonds (consisting of the aggregate par amount thereof plus original issue premium thereon, if any) are expected to be applied, provided that the State expects that under certain circumstances proceeds of the Bonds, to the extent not expended for the purposes referenced below, may be expended for such capital projects as may be authorized by the General Assembly. See "STATE INDEBTEDNESS - State Indebtedness and Procedure for Authorization." Under State law, the State Treasurer is authorized to transfer unspent proceeds from the sale of bonds, including the Bonds, from the projects for which such bonds were initially issued, to other capital projects of the State heretofore or hereafter authorized by the General Assembly.
Competitive transaction. All prices and par amounts are subject to price changes and availability.