Print
The Vermont Statutes Online
Title
03APPENDIX
:
Executive Orders
Chapter
010
:
CONSERVATION AND DEVELOPMENT
§
EO10-20. (No. 14-96) [Designation of Vermont Housing and Conservation Board as
the "State Trust Fund"
WHEREAS, the
General Assembly created the Vermont Housing and Conservation Board to conserve
and protect Vermont's agricultural land and to date the Board has assisted in
the protection of 53,500 acres of agricultural land through the purchase of
development rights; and
WHEREAS, the
Farms for the Future Act, passed by the United States Congress in 1990,
established the Agricultural Resource Conservation Demonstration Program (the
"Program") by which the State of Vermont is eligible for federal
assistance for up to five years to acquire interests in land to protect and
preserve important farmland for future agricultural use; and
WHEREAS, under
the Program, the Secretary of the U.S. Department of Agriculture (the
"Secretary"), acting through the Farmers Home Administration, will
guarantee ten year loans from lending institutions, pay all interest on such
loans for the first five years and pay the difference between the charged
interest rate and the limited resource rate, not less than 3 percent for the
second five years; and
WHEREAS, by
participating in the Program, the State of Vermont will increase its ability to
acquire interests in land to protect and preserve important farmland and create
a self-sustaining fund administered by the Vermont Housing and Conservation
Board which will reduce the risk of losing important farmland; and
WHEREAS, in
order to qualify for federal assistance this year, the State must (i)
demonstrate that State/private assistance is available for acquiring interests
in land to protect and preserve important farmlands for future agricultural
use; (ii) designate a State trust fund; and (iii) negotiate and sign an
Agreement with the Secretary; and
WHEREAS,
implementation of the federal Program will require a concerted and coordinated
effort by State and local governments, private nonprofit corporations, lending
institutions and the Secretary;
NOW THEREFORE,
BE IT RESOLVED THAT I, Howard Dean, M.D., Governor of the State of Vermont, by
the power vested in me by 3 V.S.A. Chapter 41, do hereby designate the Vermont
Housing and Conservation Board (the "Board") as the "State trust
fund" for purposes of the Agricultural Resource Conservation Demonstration
Program, passed by the United States Congress in 1990 (the
"Program").
1. The Board is
authorized to negotiate and sign an Agreement with the Secretary of the U.S.
Department of Agriculture (the "Secretary"), so that the State of
Vermont will receive federal assistance under the Program which will be used
exclusively to implement and effectuate the policies and purposes of the
Vermont Housing and Conservation Trust Fund Act, Title 10, Chapter 15 (1987,
No. 88, § 1, eff. June 11, 1987) to facilitate the acquisition of interests in
land to protect and preserve important farmlands for future agricultural use in
the State of Vermont;
2. The Board
shall advise the Secretary of the amount of State/private assistance Vermont
will make available for acquiring interests in land to protect and preserve
important farmlands for future agricultural use and provide the Secretary with
necessary verification;
3. Once the
Secretary notifies the State of Vermont that it is eligible to receive federal
assistance under the Program, the Board is authorized to borrow funds from a
lending institution, provided that the loan is guaranteed by the Secretary and
that the loan proceeds are used exclusively to implement and effectuate the
policies and purposes of the Vermont Housing and Conservation Trust Fund Act;
4. During
Vermont's participation in the Program, the Board shall work with the General
Assembly, the State Treasurer, municipalities, foundations, nonprofit
corporations, businesses and private parties to set the amount of assistance
the State of Vermont will make available in State/private assistance for
acquiring interests in land to protect and preserve important farmlands for
future agricultural use so that the State of Vermont will continue to be
eligible for federal assistance under the Program;
5. As part of
its annual report to the Governor and the General Assembly, the Board shall
include a full financial report of funds received under the Program and a list
and a description of activities supported with such funds.
This Executive
Order shall take effect upon signing and shall supersede Executive Order #98-90
adopted December 20, 1990.
Dated September
10, 1996.