The Vermont Municipal Bond Bank is an instrumentality of the State of Vermont. The VMBB’s governing statutes can be found in Chapter 119 of Title 24 of the Vermont Statures Annotated.
The Bank’s purpose is to provide Vermont’s municipalities with access to low cost financing through the national municipal bond markets. With the cooperation of its borrowers and the careful management of its outstanding bond series, the VMBB has been able to obtain investment grade ratings from Moody’s Investors Services and Standard & Poor’s. By issuing bonds on a pooled basis, the VMBB is able to generate economies of scale and reduce the cost of issuance to its borrowers. Since 1970 the VMBB has issued over $2.3 billion in new and refinancing bonds to over 500 governmental units.