2011 Vermont Code
Title 19 Highways
§ 10k Statement of policy; asset management; sale of state property

19 VT Stats § 10k. (2011 through Adj Sess) What's This?

§ 10k. Statement of policy; asset management; sale of state property

(a) The agency shall develop an asset management plan which is a systematic goal and performance-driven management and decision-making process of operating, maintaining, and upgrading transportation assets cost-effectively. At a minimum, the asset management system shall:

(1) identify transportation system indicators by which the different components of the transportation system may be evaluated;

(2) list all of the infrastructure assets and their condition, including, but not limited to, pavements, structures, and facilities;

(3) include deterioration rates for infrastructure assets; and

(4) determine, long-term, the annual funds necessary to fund infrastructure maintenance at the recommended performance level.

(b) The agency shall not negotiate nor offer for sale any state property for less than fair market value without the prior approval of the general assembly, if in session, and if not in session, the joint fiscal committee. The agency may sell or lease land to municipalities for less than fair market value when and for so long as the land is to be used by the municipality for transportation purposes. (Added 2001, No. 64, { 24, eff. June 16, 2001; amended 2003, No. 56, { 66, eff. June 4, 2003; 2003, No. 160 (Adj. Sess.), { 32, eff. June 9, 2004.)

Disclaimer: These codes may not be the most recent version. Vermont may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.