Former Vermont Gov. Jim Douglas, who also served as treasurer, called for reviving a bond program to help residents pay for the massive infrastructure damage sustained when Tropical Storm Irene belted the state in late August.

“Why not issue small-denomination 'storm bonds’? It would give Vermonters a way to be involved in repairing vital infrastructure and acquire a safe investment at the same time,” Douglas, governor from 2003 through 2010, said on Vermont Public Radio.

Douglas recalled that while treasurer from 1995 to 2002, he launched a “citizen bonds” program through which residents could invest in infrastructure projects statewide.

“I used to tout them as great stocking stuffers,” he said.

Storm bonds, he said could be available at increments as low as $100, instead of the usual $500 minimum.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.