20 V.S.A. § 35
This is the official text of 20 V.S.A. § 35, 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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§ 35. Community disaster loans
Official statutory text
Whenever, at the request of the Governor, the President has declared a “major disaster” to exist in this State, the Governor is authorized:
(1) upon the Governor's determination that a local government of the State will suffer a substantial loss of tax and other revenues from a major disaster and has demonstrated a need for financial assistance to perform its governmental functions, to apply to the federal government, on behalf of the local government, for a loan and to receive and disburse the proceeds of any approved loan to any applicant local government;
(2) to determine the amount needed by any applicant local government to restore or resume its governmental functions and to certify the same to the federal government; provided, however, that no application amount shall exceed 25 percent of the annual operating budget of the applicant for the fiscal year in which the major disaster occurs; and
(3) to recommend to the federal government, based upon the Governor's review, the cancellation of all or any part of repayment when, in the first three full fiscal year period following the major disaster, the revenues of the local government are insufficient to meet its operating expenses, including additional disaster-related expenses of a municipal operation character.
(1) upon the Governor's determination that a local government of the State will suffer a substantial loss of tax and other revenues from a major disaster and has demonstrated a need for financial assistance to perform its governmental functions, to apply to the federal government, on behalf of the local government, for a loan and to receive and disburse the proceeds of any approved loan to any applicant local government;
(2) to determine the amount needed by any applicant local government to restore or resume its governmental functions and to certify the same to the federal government; provided, however, that no application amount shall exceed 25 percent of the annual operating budget of the applicant for the fiscal year in which the major disaster occurs; and
(3) to recommend to the federal government, based upon the Governor's review, the cancellation of all or any part of repayment when, in the first three full fiscal year period following the major disaster, the revenues of the local government are insufficient to meet its operating expenses, including additional disaster-related expenses of a municipal operation character.
Status: in_force · Read it on the official government site
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