§EO10-20. (No. 14-96) [Designation of Vermont Housing and Conservation Board as the

Link to law: http://legislature.vermont.gov/statutes/section/03APPENDIX/010/00020
Published: 2015

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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.
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