Vermont § 1818 Finance of start-up and regular costs

Vermont Statutes

§ 1818 — Finance of start-up and regular costs

Vermont·Title 6 Title 6: Agriculture·Ch. 141 Chapter 141: Northeast Interstate Compact for Dairy Pricing

(a)To provide for its start-up costs, the Commission may borrow money pursuant to its general power under section 1806 of this compact, subdivision (d)(4). In order to finance the costs of administration and enforcement of this compact, including payback of start-up costs, the Commission is hereby empowered to collect an assessment from each handler who purchases milk from producers within the region. If imposed, this assessment shall be collected on a monthly basis for up to one year from the date the Commission convenes, in an amount not to exceed one-tenth of one percent of the applicable federal market order blend price per hundredweight of milk purchased from producers during the period of the assessment. The initial assessment may apply to the projected purchases of handlers for the

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(a) To provide for its start-up costs, the Commission may borrow money pursuant to its general power under section 1806 of this compact, subdivision (d)(4). In order to finance the costs of administration and enforcement of this compact, including payback of start-up costs, the Commission is hereby empowered to collect an assessment from each handler who purchases milk from producers within the region. If imposed, this assessment shall be collected on a monthly basis for up to one year from the date the Commission convenes, in an amount not to exceed one-tenth of one percent of the applicable federal market order blend price per hundredweight of milk purchased from producers during the period of the assessment. The initial assessment may apply to the projected purchases of handlers for the two-month period following the date the Commission convenes. In addition, if regulations establishing an over-order price or a compact marketing order are adopted, they may include an assessment for the specific purpose of their administration. These regulations shall provide for establishment of a reserve for the Commission’s ongoing operating expenses.
(b) The Commission shall not pledge the credit of any participating state or of the United States. Notes issued by the Commission and all other financial obligations incurred by it, shall be its sole responsibility and no participating state or the United States shall be liable therefor.

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