Proceeds Proceeds from the sale of bonds may be expended for the authorized purposes of the bonds, including the expenses of preparing, issuing, and marketing the bonds; any notes issued under section 976 of this title; and amounts for any reserves. However, no purchasers of the bonds shall be bound to see to the proper application of the proceeds thereof. (Added 2009, No. 50, § 28; amended 2011, No. 63, § F.106, eff. June 2, 2011.)
Vermont Legal Code