Section 4012 - Eminent domain; exemption of property from execution(a) An authority shall have the right to acquire by the exercise of the power of eminent domain any real property that it may deem necessary for its purposes under this chapter after the adoption by it of a resolution declaring that the acquisition of the real property described therein is necessary for such purposes. An authority may exercise the power of eminent domain in the manner provided for the condemnation of land or rights therein as set forth in 19 V.S.A. §§ 500-514 and 519 and acts amendatory thereof or supplementary thereto. Property already devoted to a public use may be acquired, provided that no real property belonging to the city, county, State, or any political subdivision thereof may be acquired without its consent.(b) Where it appears to the satisfaction of the court at any stage of the proceedings, upon the petition of the authority that the public interest will be prejudiced by delay, the court may, after such notice to the parties in interest as it may prescribe, which notice, however, shall not be less than eight days and may be by posting upon the property or by publication in such paper or papers at such time as the court may require, order that the authority be permitted to enter immediately upon the real property described in the petition, or any part thereof and to demolish any structures located thereon and to proceed with the construction of the project thereon, upon depositing with the court a sum of money or in lieu thereof, bonds or obligations of the United States of equivalent or greater value, not less than the last assessed valuation of the property, that the court shall find to be sufficient for the protection of the persons who may be entitled to the award. Such deposit or proceeds thereof shall be applied so far as it may be necessary for that purpose, to the payment of any award that may be made, with interest thereon, costs and expenses and the residue, if any, shall be returned to the authority; in the event of a deficiency in the sum deposited, the authority shall pay the balance to make up the award in accordance with the judgment.(c) All real property of any housing authority, created pursuant to the provisions of this chapter, shall be exempt from levy and sale by virtue of an execution and no execution or other judicial process shall issue against the same nor shall any judgment against such authority be a charge or lien upon its real property; provided however, that the provisions of this section shall not apply to or limit the right of obligees to foreclose or otherwise enforce any mortgage of such an authority or the right of obligees to pursue any remedy for the enforcement of any pledge or liens given by such an authority on its rents, fees, or revenues.Added 1961, No. 212, § 12, eff. 7/11/1961; amended 2011, No. 126 (Adj. Sess.) , § 7.