Vermont Statutes Title 16. Education, § 3854. Operation and management of facilities

(1) pledging all or any part of the monies, earnings, income, and revenues derived by the eligible institution from the facility or any part or parts thereof, or other real or personal property or revenues or money of the eligible institution, to secure payments required under the terms of the lease;

(2) the rates, rental fees, and other charges to be fixed and collected by the eligible institution, the amounts to be raised in each year thereby, and the use and disposition of those monies, earnings, income, and revenues;

(3) the setting aside of reserves and the creation of special funds and the regulation and disposition thereof;

(4) the procedure, if any, by which the terms of the financing agreement may be amended, the amount of bonds or notes to which holders must consent, and the manner in which the consent may be given;

(5) vesting in a trustee or trustees such specified properties, rights, powers, and duties as shall be deemed necessary or desirable for the security of the holders of the bonds or notes of the Agency issued for the facility;

(6) the obligations of the eligible institution with respect to the replacement, reconstruction, maintenance, operation, repairs, and insurance of the facility;

(7) defining the acts or omissions to act constituting a default in the obligations and duties of the eligible institution under a financing agreement, and providing for the rights and remedies of the Agency and of its bondholders or noteholders if default occurs;

(8) providing for disposition of the facility after liabilities of the Agency incurred for the facility have been met and the bonds or notes of the Agency issued therefor or secured by the revenues thereof have been paid or otherwise satisfied; and

(9) any other matters of like or different character that may be deemed necessary or desirable for the security or protection of the Agency or the holders of its bonds or notes.