The Vermont Statutes Online
Conservation and Development
DISPOSAL OF LOW-LEVEL RADIOACTIVE WASTE
7015. Construction costs
(a) In lieu of
proposing a financing plan for the construction costs to the legislature under
subsection 7012(i) of this title, the authority may solicit offers to purchase
or otherwise commit or contract for disposal capacity in the disposal facility
authorized by this chapter. In the solicitation the authority should provide an
estimate of the proposed design capacity and the expected construction costs.
(b) No offer may
be accepted unless the terms of all such commitments or contracts, taken
together, provide for the complete prepayment of all construction costs,
exhaust the proposed capacity, contain acceptable terms and conditions and are
otherwise in the best interest of the state.
commitments or contracts shall be nontransferable, without approval of the
authority, shall provide for payment on an equal and pro rata basis for all
generators and shall provide for the right of the authority to reacquire, at
any time, pro rata from all such commitments or contracts sufficient capacity
to meet emergencies or necessary contingencies.
(d) If the total
capacity of all offered commitments or contracts is less than the expected
low-level radioactive waste, or if the commitments or contracts provide less
than all the construction costs, or if the offers are for any other reason
unsatisfactory, then the authority shall reduce the design capacity of the
facility, try to negotiate terms and conditions which will provide the complete
construction costs and carry out the purposes of this chapter.
authority may, for any reason, decide to not accept all offers received under
this section and decide to pursue an alternative method of financing the
construction costs of the disposal facility. If the authority decides not to
accept any such offers, it shall propose a financing plan to the legislature
within 90 days or by the date set out in subdivision 7002(a)(9) of this title,
whichever is later. (Added 1989, No. 296 (Adj. Sess.), § 3, eff. June 29,