19 V.S.A. § 10k
This is the official text of 19 V.S.A. § 10k, part of Vermont’s V.S.A — part of the compiled statutory law of Vermont, published by the state as "V.S.A." Browse the sections below, each linked to its official government source.
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§ 10k. Statement of policy; asset management; sale of State property
Official statutory text
(a) The Agency shall develop an asset management plan that 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 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.
(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 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.
Status: in_force · Read it on the official government site
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