(a) The Village of Lyndonville, when authorized as provided in 24 V.S.A. chapter 53, may pledge its credit by issuing its negotiable orders, warrants, notes, or bonds for project costs, or its share of project costs, of electric power facilities authorized pursuant to section 604 of this title. Such project costs may include all costs, whether incurred prior to or after the issue of bonds or notes hereunder, of acquisition, site development, construction, improvement, enlargement, reconstruction, alteration, machinery, equipment, furnishings, nuclear fuel, demolition or removal of existing buildings or structures, including the cost of acquiring any lands to which such buildings or structures may be moved, financing charges, interest prior to and during the carrying out of any project and for a reasonable period thereafter, planning, engineering, financial advisory and legal services, administrative expenses, prepayments under contracts made pursuant to section 604 of this title, the funding of notes issued for project costs as hereinafter provided, and all other expenses incidental to the determination of the feasibility of any project or to carrying out the project or to placing the project in operation.

(b) The obligations shall be issued in accordance with 24 V.S.A. chapter 53 and the charter of the Village of Lyndonville relating to said obligations. The amount of obligations issued for such purpose shall not be considered in computing any debt limit applicable to the Village.

(c) The May 3, 1977 vote of the voters of the Village of Lyndonville authorizing and empowering the Village of Lyndonville Board of Trustees to pledge the credit of the Village by issuing general obligation bonds or notes in an amount not to exceed  $3,800,000.00 for the purpose of acquiring joint ownership interests in four power plants presently designated as the Connecticut 1979 Nuclear Unit, Pilgrim No. 2, and Wyman Unit No. 4 and MMWEC Phase I Intermediate Units and located in the states of Connecticut, Maine, and Massachusetts is hereby ratified, adopted, and validated in all respects. In addition, any action authorized hereunder taken during the calendar year that commenced January 1, 1977 shall be valid and effective as if this chapter were in effect on January 1, 1977. (Added 1977, No. 278 (Adj. Sess.), § 6, eff. Feb. 9, 1978.)