32 V.S.A. § 993 — Public approval, out-of-state issuers

Notwithstanding any provision to the contrary in Title 9, the Governor, in consultation
with the State Treasurer, shall have exclusive authority to grant any public approval
required under Section 147(f)(2) of the Internal Revenue Code of 1986, as amended, pertaining to the proposed issuance of qualified private activity bonds
when the purpose of the bonds is to finance or refinance purposes to be located within
the State and the bonds are proposed by any issuers of qualified private activity
bonds organized under the laws of a jurisdiction other than the State of Vermont.
Approval shall not be withheld unless the Governor, in consultation with the State
Treasurer, determines in good faith that the issuance is not financially sound. (