|BILL AS INTRODUCED||2007-2008|
Introduced by Senator Bartlett of Lamoille District
Subject: Public service; municipal utilities
Statement of purpose: This bill proposes to authorize the villages of Hyde Park and Johnson and the towns of Hardwick, Morrisville, and Stowe to pool their resources for electric facilities.
AN ACT RELATING TO THE MUNICIPALITIES OF HARDWICK, HYDE PARK, JOHNSON, MORRISVILLE, AND STOWE
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 30 V.S.A. chapter 14 is amended to read:
14. CITY OF BURLINGTON,
VILLAGE VILLAGES OF LYNDONVILLE, HYDE
PARK, JOHNSON, AND MORRISVILLE AND TOWN TOWNS OF ROCKINGHAM,
AND STOWE ACQUISITION OF FACILITIES
§ 604. ADDITIONAL AUTHORITY
any contrary provision of any general or special law relating to the powers and
authorities of electric utilities or any limitation imposed by their charters,
the city of Burlington, the village of Lyndonville acting through its board of
and the town towns of Rockingham, Hardwick, and
Stowe, and the villages of Hyde Park, Johnson, and Morrisville shall each
have the following additional powers:
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(b) Other electric utilities, whether cooperative, municipal or privately owned, may enter into and perform contracts with the city of Burlington and the towns of Hardwick and Stowe and the villages of Hyde Park, Johnson, and Morrisville for the purposes of this section. The provisions of this chapter shall not otherwise affect the jurisdiction of the public service board regarding the activities of the Burlington electric light department and of the village of Lyndonville electric light department, or any municipal utility formed by the town of Rockingham, or the municipal utilities of the towns of Hardwick and Stowe and the villages of Hyde Park, Johnson, and Morrisville within the state of Vermont.
* * *
(e) The towns of Hardwick and Stowe and the villages of Hyde Park, Johnson, and Morrisville shall have the authority to acquire membership units in Vermont Transco LLC or Vermont Electric Power Company in excess of amounts equal to their respective load shares of participation in those companies, and to finance the acquisition of membership units by any means permitted under subchapters 1 and 2 of chapter 53 of Title 24 for the purpose of defraying the share of the costs of a 115 kV transmission line and substation project granted a certificate of public good by the public service board in PSB Docket No. 7032. The terms under which membership units are acquired pursuant to this subsection shall not include any provision of guaranty, assessment, indemnification, or joint and several liability applicable to any of the towns or villages listed in this subsection.
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§ 610a. AUTHORIZATION OF INDEBTEDNESS; TOWNS OF
HARDWICK AND STOWE AND VILLAGES OF
HYDE PARK, JOHNSON, AND MORRISVILLE
(a) Each of the towns of Hardwick and Stowe and the villages of Hyde Park, Johnson, and Morrisville, when authorized as provided in subchapters 1 and 2 of chapter 53 of Title 24, may pledge its credit or the net revenues of its municipal plant by issuing negotiable orders, warrants, notes, or bonds for the purchase of membership units in Vermont Transco LLC or Vermont Electric Power Company to defray the respective shares of each municipality of project costs of electric power transmission facilities authorized pursuant to subsection 604(e) of this chapter. In addition, the purchase or project participation may be effected through any instrument permitted under section 1789 of Title 24. Such project costs may include all costs, whether incurred prior to or after the issue of bonds or notes relating to the acquisition of facilities under this chapter, of acquisition, site development, construction, improvement, enlargement, reconstruction, alteration, machinery, equipment, furnishings, demolition or removal of existing buildings or structures, including the cost of acquiring any lands to which such buildings or structures may be moved, financing charges, interest prior to and during the carrying out of any project and for a reasonable period thereafter, planning, engineering, financial advisory and legal services, administrative expenses, prepayments under contracts made pursuant to section 604 of this chapter, the funding of notes issued for project costs, and all other expenses incidental to the determination of the feasibility of any project, or to carrying out the project, or to placing the project in operation.
(b) The obligations shall be issued in accordance with chapter 53 of Title 24. The amount of obligations issued for such purpose shall not be considered in computing any debt limit applicable to the town or village.
(c) Any contract entered into and any debt obligation issued under this section for any purpose pursuant to this chapter shall have been issued for an essential government purpose and shall not be deemed to be a pledge of private credit for public benefit nor a delegation of municipal authority, responsibility, or discretion.
The Vermont General Assembly
115 State Street