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2017 Vermont Statutes
Title 10 - Conservation and Development
Chapter 1 - Economic Development
§ 10 Vermont State Treasurer; credit facility for local investments
Universal Citation: 10 V.S.A. § 10
§ 10. Vermont State Treasurer; credit facility for local investments
(a) Notwithstanding any provision of 32 V.S.A. § 433(a) to the contrary, the Vermont State Treasurer shall have the authority to establish a credit facility of up to 10 percent of the State's average cash balance on terms acceptable to the Treasurer and consistent with prudent investment principles and guidelines pursuant to 32 V.S.A. § 433(b)-(c) and the Uniform Prudent Investor Act, 14A V.S.A. chapter 9.
(b) The amount authorized in subsection (a) of this section shall include all credit facilities authorized by the General Assembly and established by the Treasurer, and the renewal or replacement of those credit facilities. (Added 2015, No. 157 (Adj. Sess.), § F.9.)
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