reglab/housing_qa huggingface dataset:
35-A ME Rev Stat § 2907 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2907. Prohibited acts and limitation of powers

 §2907. Prohibited acts and limitation of powers Nothing in this chapter permits or authorizes the bank to:   [PL 1987, c. 141, Pt. A, §6 (NEW).]1.  Loans.  Make loans of money to any person other than a public utility or purchase securities issued by any person other than a public utility or for investment, except as provided in this chapter;   [PL 1987, c. 141, Pt. A, §6 (NEW).] 2.  Banking business.  Issue bills of credit; accept deposits of money for time or demand deposit; administer trusts; engage in any manner in, or in the conduct of, any private or commercial banking business; or act as a savings bank or savings and loan association;   [PL 1987, c. 141, Pt. A, §6 (NEW).] 3.  Bank and trust company.  Be or constitute a bank or trust company within the jurisdiction or under the control of the Bureau of Financial Institutions, the Superintendent of Financial Institutions, the Comptroller of the Currency of the United States or the United States Department of the Treasury;   [PL 1987, c. 141, Pt. A, §6 (NEW); PL 2001, c. 44, §11 (AMD); PL 2001, c. 44, §14 (AFF).] 4.  Security business.  Be or constitute a dealer in securities within the meaning of or subject to any securities law, securities exchange law or securities dealers law of the United States, of this State or of any other state or jurisdiction; or   [PL 1987, c. 141, Pt. A, §6 (NEW).] 5.  Public utility.  Be a public utility or own and operate for its own account, and not as part of a financing undertaken pursuant to this chapter, any public utility plant, system or facility.   [PL 1987, c. 141, Pt. A, §6 (NEW).] SECTION HISTORY PL 1987, c. 141, §A6 (NEW). PL 2001, c. 44, §11 (AMD). PL 2001, c. 44, §14 (AFF).
35-A ME Rev Stat § 2909 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2909. Resolutions and indentures

 §2909. Resolutions and indentures In any resolution of the bank authorizing or relating to the issuance of any bonds or notes, the bank, in order to secure the payment of the bonds or notes and in addition to its other powers, shall have power by provisions in the resolution which constitute covenants by the bank and contracts with the holders of the bonds or notes to enter into any trust agreement or trust indenture with a corporate trustee, which may be any trust company or national banking association or state bank having the powers of a trust company inside or outside the State. The trust agreement, indenture or the resolution providing for the issuance of the bonds or notes may pledge or assign the revenues of the bank, and may contain provisions for protecting and enforcing the rights and remedies of the holder of such bonds and notes as may be reasonable and proper and not in violation of law, including the custody, safeguarding and application of all money. A trust agreement may set forth the rights and remedies of the holders of the bonds and notes and of the trustee, and may restrict the individual right of action by those holders. The bank may provide by the trust indenture for the payment of the proceeds of the bonds and notes and the revenues to the trustee under the trust indenture or other depository, and for the method of disbursement of those payments, with safeguards and restrictions as it may determine. All expenses incurred in carrying out the trust indenture may be treated as a part of the operating expenses of the bank. If the bonds are secured by a trust indenture, the bondholder has no authority to appoint a separate trustee to represent them.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2910 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2910. Intent of pledge

 §2910. Intent of pledge Any pledge of revenue or other money made by the bank is valid and binding from time to time when the pledge is made. The revenue or other money pledged and received by the bank is immediately subject to the lien of the pledge without any physical delivery of the revenue or other money or further act and the lien of any pledge is valid and binding as against all persons having claims of any kind in tort, contract or otherwise against the bank, irrespective of whether those persons have notice of the lien. Neither the resolution nor any other instrument by which a pledge is created need be filed or recorded, except in the records of the bank.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2911 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2911. Reserves and funds

 §2911. Reserves and funds 1.  Establishment.  The bank may establish such reserves and such other funds or accounts as may be, in its discretion, necessary, desirable or convenient to further the accomplishment of the purposes of the bank or to comply with the provisions of any agreement made by or any resolution of the bank.   [PL 1987, c. 141, Pt. A, §6 (NEW).] 2.  Investment.  Money at any time in the reserve fund may be invested in the same manner as permitted for investment of funds belonging to the State or held in the treasury.   [PL 1987, c. 141, Pt. A, §6 (NEW).] SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2912 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2912. Personal liability

 §2912. Personal liability Neither the commissioners of the bank nor any person executing bonds or notes issued pursuant to this chapter is liable personally on the bonds or notes by reason of the issuance of the bonds or notes.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2913 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2913. Purchase of bonds and notes of bank

 §2913. Purchase of bonds and notes of bank The bank may purchase bonds or notes of the bank out of any funds or money of the bank available for that purpose. The bank may hold, cancel or resell the bonds or notes subject to and in accordance with agreements with holders of its bonds or notes.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2914 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2914. Bonds as legal investments and security

 §2914. Bonds as legal investments and security Notwithstanding any restrictions contained in any other law, the State and all public officers, governmental units and agencies; all national banking associations, state banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business; all insurance companies, insurance associations and other persons carrying on an insurance business; and all executors, administrators, guardians, trustees and other fiduciaries may legally invest any sinking funds, money or other funds belonging to them or within their control in any bonds or notes issued by the bank pursuant to this chapter and the bonds or notes shall be authorized security for any and all public deposits.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2915 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2915. Tax exemptions

 §2915. Tax exemptions All bonds and notes issued under this chapter are deemed to be held or issued in connection with essential public and governmental purposes and those bonds and notes so issued, their transfer and the income from them, including any profits made on their sale, are at all times exempt from taxation within the State.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2916 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2916. Exemption of property from execution sale; actions to set aside resolutions

 §2916. Exemption of property from execution sale; actions to set aside resolutions 1.  Bank property exempt.  All property of the bank is exempt from levy and sale by virtue of an execution and no execution or other judicial process may issue against the bank's property nor may any judgment against the bank be a charge or lien upon its property; provided that nothing contained in this chapter applies to or limits the rights of the holder of any bonds or notes to pursue any remedy for the enforcement of any pledge or lien given by the bank on its revenues or other money.   [PL 1987, c. 141, Pt. A, §6 (NEW).] 2.  Action to set aside resolution.  An action or proceeding in any court to set aside a resolution authorizing the issuance of bonds or notes by the bank under this chapter or to obtain any relief upon the ground that the resolution is invalid must be commenced within 30 days after the adoption of the resolution by the bank. After the expiration of the period of limitation, no right of action or defense founded upon the invalidity of the resolution or any of its provisions may be asserted nor may the validity of the resolution or any of its provisions be open to question in any court on any ground.   [PL 1987, c. 141, Pt. A, §6 (NEW).] SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2917 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2917. Insurance or guaranty

 §2917. Insurance or guaranty The bank may obtain from any department or agency of the United States or the State or nongovernmental insurer any insurance or guaranty, to the extent available, as to the payment or repayment of interest or principal, or both, or any part of the interest or principal, on any bonds or notes issued by the bank, or on any public utility bonds purchased or held by the bank, pursuant to this chapter; and may enter into any agreement or contract with respect to any insurance or guaranty, except to the extent that the agreement or contract would in any way impair or interfere with the ability of the bank to perform and fulfill the terms of any agreement made with the holders of the bonds or notes of the bank.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2918 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2918. Annual report

 §2918. Annual report No later than the last day of December, the bank shall make an annual report of its activities for the preceding fiscal year to the Governor. Each report shall set forth a complete operating and financial statement covering its operations during the year. The bank shall cause an audit of its books and accounts to be made at least once in each year by certified public accountants. The cost of the audit shall be considered an expense of the bank. The bank shall file a copy of the audit with the Treasurer of State.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2919 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2919. Additional powers

 §2919. Additional powers In order to carry out the purposes and provisions of this chapter, the bank, in addition to any powers granted to it elsewhere in this chapter, may:   [PL 1987, c. 141, Pt. A, §6 (NEW).]1.  Loans.  In connection with any loan to a public utility, consider the need, desirability or eligibility of the loan, the ability of the public utility to secure borrowed money from other sources and the costs of the loan and the particular public improvement or purpose to be financed;   [PL 1987, c. 141, Pt. A, §6 (NEW).] 2.  Charges.  Impose and collect charges for its costs and services in review or consideration of any proposed loan to a public utility or purchase of public utility bonds whether or not the loan has been made or the public utility bonds have been purchased;   [PL 1987, c. 141, Pt. A, §6 (NEW).] 3.  Purchase.  Fix and establish terms and provisions with respect to any purchase of public utility bonds by the bank, including dates and maturities of the bonds, provisions as to redemption or payment prior to maturity and other matters which in connection with such a purchase are necessary, desirable or advisable in the judgment of the bank;   [PL 1987, c. 141, Pt. A, §6 (NEW).] 4.  Hearings.  Conduct examinations and hearings and hear testimony and take proof, under oath or affirmation, at public or private hearings, on any matter material for its information and necessary to carry out this chapter;   [PL 1987, c. 141, Pt. A, §6 (NEW).] 5.  Insurance.  Procure insurance against any losses in connection with its property, operations or assets in and from such amounts and from such insurers as it determines desirable; and   [PL 1987, c. 141, Pt. A, §6 (NEW).] 6.  Modification.  To the extent permitted under its contracts with the holders of bonds or notes of the bank, consent to any modification with respect to rate of interest, time and payment of any installment of principal or interest, security or any other term of bond or note, contract or agreement of any kind to which the bank is a party.   [PL 1987, c. 141, Pt. A, §6 (NEW).] SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2920 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2920. Undertakings of depositories

 §2920. Undertakings of depositories All national banking associations or state banks, trust companies, savings banks, investment companies and other persons carrying on a banking business may give the bank a good and sufficient undertaking with sureties that are approved by the bank to the effect that the national banking association or state bank or banking institution as described faithfully keeps and pays over to the order of or upon the warrant of the bank or its authorized agent all funds that may be deposited with it by the bank and agreed interest on the funds under this chapter, at such times or upon such demands as are agreed with the bank or in lieu of such sureties, deposit with the bank or its authorized agent or any trustee or for the holders of any bonds, as collateral, such securities as the bank approves. The deposits of the bank may be evidenced by an agreement in such form and upon such terms and conditions as are agreed upon by the bank and the national banking association or state bank or banking institution.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2921 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2921. Purchase of public utility securities

 §2921. Purchase of public utility securities 1.  Authorizations of public utilities.  Every public utility may:   A. Contract to pay interest on, or an interest cost per year for, money borrowed from the bank and evidenced by its public utility bond purchased by the bank;   [PL 1987, c. 141, Pt. A, §6 (NEW).]B. Contract with the bank with respect to that loan or purchase and the contract shall contain the terms and conditions of the loan or purchase;   [PL 1987, c. 141, Pt. A, §6 (NEW).]C. Pay fees and charges required to be paid to the bank for its services; and   [PL 1987, c. 141, Pt. A, §6 (NEW).]D. Sell bonds to the bank on such terms and conditions as may be agreed to by it and the bank and approved by the commission.   [PL 1987, c. 141, Pt. A, §6 (NEW).][PL 1987, c. 141, Pt. A, §6 (NEW).] 2.  Officers' signatures on bonds.  If any officer whose signature appears on the public utility bonds ceases to be an officer before the delivery of those bonds, that officer's signature is valid for all purposes as if that officer had remained in office.   [RR 2021, c. 1, Pt. B, §412 (COR).] SECTION HISTORY PL 1987, c. 141, §A6 (NEW). RR 2021, c. 1, Pt. B, §412 (COR).
35-A ME Rev Stat § 2922 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2922. Remedies on default of public utility securities

 §2922. Remedies on default of public utility securities In the event of default by a public utility in the payment of interest on, or principal of, any public utility bond owned or held by the bank as and when due and payable the bank shall proceed to enforce or cause to be enforced payment pursuant to applicable provisions of law of that interest or principal or other amounts then due and payable.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2923 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2923. Purchase of anticipation notes

 §2923. Purchase of anticipation notes The bank may purchase notes of any public utility issued in anticipation of the sale of public utility bonds in an amount not exceeding at any one time the outstanding authorized amount of the public utility bonds. In connection with any such purchase of anticipation notes, the bank may by agreement with the public utility impose such terms, conditions and limitations as in its opinion are proper in the circumstances and for the purposes and security of the bank and the holders of its bonds or notes. The bank shall enforce all such rights, remedies and provisions of law as it has under this section or this chapter or as otherwise provided by law.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2924 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2924. Budget

 §2924. Budget No later than June 1st each year, the bank shall prepare and file in the office of the Bureau of the Budget a budget of its operating expenses for the ensuing fiscal year. The budget shall be prepared on the basis of quarterly requirements so that it is possible to determine from the budget the operating expenses for each quarter of the year, and shall set forth the general categories of anticipated expenditures and the amount on account of each and shall include provision for reserve for contingencies and for over-expenditures. The budget may set forth such additional material as the bank may determine.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2925 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2925. State services

 §2925. State services 1.  State may render services to bank.  All officers, departments, boards, agencies, divisions and commissions of the State, including, without limitation, the Maine Municipal Bond Bank, may render any services to the bank which are within the area of their respective governmental functions as established by law and which are requested by the bank.   [PL 1987, c. 141, Pt. A, §6 (NEW).] 2.  State to comply with bank requests.  All of the officers, departments, boards, agencies, divisions and commissions shall comply promptly with any reasonable request by the bank as to the making of any study or review as to desirability, need, cost or expense with respect to any public project, purpose or improvement or the financial feasibility of any project, purpose or improvement or the financial or fiscal responsibility or ability in connection with any project, purpose or improvement of any public utility making application for loan to the bank and for the purchase by the bank of public utility bonds.   [PL 1987, c. 141, Pt. A, §6 (NEW).] 3.  Cost and expense of state services.  At the request of the officer, department, board, agency, division or commission rendering the service, the bank shall pay for the cost and expense of services it has requested. The Maine Municipal Bond Bank may make temporary advances of funds to the bank from such funds as it determines are available and on such terms and conditions as it determines.   [PL 1987, c. 141, Pt. A, §6 (NEW).] SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2926 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2926. Agreements with financial institutions

 §2926. Agreements with financial institutions 1.  Public utility bonds.  The bank may enter into such agreements or contracts with any commercial banks, trust companies, banking or other financial institutions inside or outside the State as are necessary, desirable or convenient as determined by the bank, for rendering services to the bank in connection with:   A. The care, custody or safekeeping of public utility bonds or other investments held or owned by the bank;   [PL 1987, c. 141, Pt. A, §6 (NEW).]B. The payment or collection of amounts due and payable as to principal or interest; and   [PL 1987, c. 141, Pt. A, §6 (NEW).]C. The delivery to the bank of public utility bonds or other investments purchased by it or sold by it and may pay the cost of these services.   [PL 1987, c. 141, Pt. A, §6 (NEW).][PL 1987, c. 141, Pt. A, §6 (NEW).] 2.  Bank may require security.  The bank may also, in connection with services to be rendered by commercial banks, trust companies or banking or other financial institutions, as to the custody and safekeeping of any of its public utility bonds or investments, require security in the way of collateral bonds, surety agreements or security agreements in such form and in such amount as are necessary or desirable for the purpose of the bank, as determined by the bank.   [PL 1987, c. 141, Pt. A, §6 (NEW).] SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2927 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2927. Form of public utility securities and investments

 §2927. Form of public utility securities and investments All public utility or other investments of money of the bank permitted or provided for under this chapter shall at all times be purchased and held in fully marketable form, subject to provision for any registration in the name of the bank. All public utility bonds at any time purchased, held or owned by the bank shall upon delivery to the bank be accompanied by documentation, including approving legal opinion, certification and guaranty as to signatures, certification as to absence of litigation and such other or further documentation as shall from time to time be required in the municipal bond market.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A ME Rev Stat § 2928 (2021)
2021 Maine Revised Statutes|TITLE 35-A: PUBLIC UTILITIES|Part 2: PUBLIC UTILITIES|Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT|35-A §2928. Presumption of validity

 §2928. Presumption of validity After issuance, all bonds or notes of the bank are conclusively presumed to be fully authorized and issued under the laws of the State and any person or public utility is estopped from questioning their authorization, sale, issuance, execution or delivery by the bank.   [PL 1987, c. 141, Pt. A, §6 (NEW).]SECTION HISTORY PL 1987, c. 141, §A6 (NEW).