reglab/housing_qa huggingface dataset:
10 ME Rev Stat § 1051 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM|10 §1051. Bonds as legal investments

 §1051. Bonds as legal investments The revenue obligation securities of the authority and any loan or extension of credit issued under this subchapter, shall be legal investments in which all public officers and public bodies of the State, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, banking associations, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries and all other persons who are now or may later be authorized to invest in bonds or other obligations of the State, may properly and legally invest funds, including capital, in their control or belonging to them. The revenue obligation securities and any loan or extension of credit which is issued under this subchapter are also made securities which may properly and legally be deposited with and received by all public officers and bodies of the State or any agency or political subdivisions and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the State is now or may later be authorized by law.   [PL 1985, c. 344, §77 (AMD).]SECTION HISTORY PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §77 (AMD).
10 ME Rev Stat § 1052 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM|10 §1052. Successor to Maine Guarantee Authority

 §1052. Successor to Maine Guarantee Authority The Finance Authority of Maine is the successor to the former Maine Guarantee Authority and all securities, mortgages, trust agreements, authorizations, financial documents, resolutions and actions of the Maine Guarantee Authority shall be obligations, resolutions or actions of the Finance Authority of Maine.   [PL 1983, c. 519, §16 (NEW).]SECTION HISTORY PL 1983, c. 519, §16 (NEW).
10 ME Rev Stat § 1054 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM|10 §1054. Taxable bond option

 §1054. Taxable bond option With respect to all or any portion of any issue of any bonds or any series of bonds that the authority may issue in accordance with the limitations and restrictions of this subchapter, the authority may covenant and consent that the interest on the bonds is includable, under the United States Internal Revenue Code of 1986 or any subsequent corresponding internal revenue law of the United States, in the gross income of the holders of the bonds to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includable in the gross income of the holders under the United States Internal Revenue Code or any subsequent law. Bonds issued pursuant to this section are not subject to any limitations or restrictions of any law that may limit the authority's power to issue those bonds or to the procedures set forth in section 1043 or in section 1044, subsections 1, 11 and 12. The foregoing grant of power may not be construed as limiting the inherent power of the State or its agencies under any other provision of law to issue debt, the interest on which is includable in the gross income of the holders of the interest under the United States Internal Revenue Code or any subsequent law. Any action or proceeding in any court to contest the issuance of the securities, the approval by the authority of a project to benefit from issuance of the securities or the approval by the authority of mortgage insurance or the provision of a capital reserve fund for the securities for any reason must be started within 30 days after the date on which the members of the authority adopt a formal resolution approving issuance of the securities and otherwise must be governed by Title 5, chapter 375, subchapter 7. Once the authority has adopted a resolution to approve the issuance of securities pursuant to this section, any action by the authority to amend, alter or revise the resolution may not commence a new period of time within which any such action or proceeding may be commenced. Notwithstanding the provisions of section 969-A, subsection 11 and Title 5, chapter 375, subchapter 7, including, but not limited to, Title 5, sections 11002 and 11003, any such action or proceeding may be commenced only by first serving the petition for review upon the authority, in hand, within that 30-day period. After the expiration of the 30-day period of limitation, no right of action or defense founded upon the invalidity of the resolution or contesting any provision of the resolution, any amendment to the resolution or the issuance of the securities may be started or asserted nor may the resolution or the issuance of the securities be open to question in any court upon any grounds.   [PL 2019, c. 160, §8 (AMD).]SECTION HISTORY PL 1985, c. 344, §78 (NEW). PL 1985, c. 593, §3 (AMD). PL 1987, c. 393, §12 (AMD). PL 1995, c. 4, §9 (AMD). PL 2019, c. 160, §8 (AMD).
10 ME Rev Stat § 1055 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM|10 §1055. Revenue obligation securities for waste facilities, waste disposal services or recycling projects

 §1055. Revenue obligation securities for waste facilities, waste disposal services or recycling projects In addition to any other powers and for the purposes of this chapter and Title 38, chapter 24, the authority may exercise powers and authority previously granted to the former Maine Waste Management Agency in Title 38, sections 2211 to 2222.   [PL 1995, c. 465, Pt. B, §5 (NEW); PL 1995, c. 465, Pt. C, §2 (AFF).]SECTION HISTORY PL 1995, c. 465, §B5 (NEW). PL 1995, c. 465, §C2 (AFF).
10 ME Rev Stat § 1061-A (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1061-A. Limitations on certain projects

 §1061-A. Limitations on certain projects In the case of projects consisting of multi-family or single-family residential property, the Maine State Housing Authority has responsibility to approve or disapprove such projects in accordance with regulations adopted pursuant to the Maine Administrative Procedure Act, Title 5, chapter 375, in lieu of the approval required by the authority under this subchapter, provided that this section applies only to projects that require an allocation under any applicable state bond ceiling for tax-exempt bonds.   [RR 1991, c. 2, §30 (COR).]1.  Retail stores.   [PL 1991, c. 606, Pt. F, §3 (RP).] 2.  Professional office space.   [PL 1991, c. 606, Pt. F, §3 (RP).] 3.  Reconstruction of existing building projects.   [PL 1991, c. 606, Pt. F, §3 (RP).] 4.  Residential property.   [PL 1991, c. 606, Pt. F, §3 (RP).] SECTION HISTORY PL 1985, c. 344, §80 (NEW). PL 1985, c. 594, §3 (AMD). PL 1987, c. 393, §13 (AMD). RR 1991, c. 2, §30 (COR). PL 1991, c. 606, §F3 (RPR).
10 ME Rev Stat § 1061-B (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1061-B. Designation of issuer of recovery zone facility bonds and qualified energy conservation bonds

 §1061-B. Designation of issuer of recovery zone facility bonds and qualified energy conservation bonds To the extent permitted by federal law, and to the extent not previously reallocated pursuant to section 1074-A or 1074-B, the county commissioners of any county may authorize the authority to issue recovery zone facility bonds or qualified energy conservation bonds on behalf of that county pursuant to subchapter 3 or a municipality to issue recovery zone facility bonds or qualified energy conservation bonds on behalf of that county pursuant to this subchapter.   [PL 2009, c. 517, §10 (NEW).]SECTION HISTORY PL 2009, c. 517, §10 (NEW).
10 ME Rev Stat § 1062 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1062. Assistance to municipalities

 §1062. Assistance to municipalities The authority may assist municipalities in negotiations with prospects, drafting of contracts, arranging for financing and negotiations for sale of securities to be issued under this subchapter.   [PL 1983, c. 519, §18 (AMD).]SECTION HISTORY PL 1981, c. 476, §2 (NEW). PL 1983, c. 519, §18 (AMD).
10 ME Rev Stat § 1066 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1066. Rentals and revenues

 §1066. Rentals and revenues 1.  Provisions.  Before issuing revenue obligation securities for any project, the municipal officers shall determine that there will at all times be revenues and funds sufficient:   A. To pay the principal of and the interest of the securities as they become due and payable and, in their discretion, to create and maintain reserves for that purpose; and   [PL 1985, c. 714, §37 (AMD).]B. To pay the cost of maintaining and repairing the project unless provision is made in a lease or other contract for maintenance and repair.   [PL 1985, c. 714, §37 (AMD).][PL 1985, c. 714, §37 (AMD).] 2.  Sinking fund.  All project rentals and other revenues, except those required in subsection 1, paragraph B, or to provide reserves for maintenance and repair may be set aside at regular intervals, as provided in the resolution, financial document or trust agreement and deposited to the credit of a sinking fund charged with payment of the interest and principal of the securities as they fall due, any necessary charges of paying agents for paying principal and interest, and the redemption price or the purchase price of securities retired by call or purchase. The use and disposition of moneys to the credit of the sinking fund shall be subject to regulations prescribed in the authorizing resolution, the trust agreement or applicable financial document. Except as may otherwise be provided in the resolution, financial document or trust agreement, the sinking fund shall be a fund for the benefit of all securities issued for the project or projects without distinction or priority of one over another.   [PL 1985, c. 344, §90 (AMD).] 3.  Trust funds.  All moneys received under this subchapter are deemed trust funds, to be held and applied solely as provided in the subchapter. Any officer to whom, or any bank, trust company or other fiscal agent or trustee in which the moneys shall be paid shall act as trustee of the moneys and shall hold and apply them for the purposes of this subchapter, subject to regulations provided in the subchapter, authorizing resolution or trust agreement.   [PL 1981, c. 476, §2 (NEW).] SECTION HISTORY PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §90 (AMD). PL 1985, c. 714, §37 (AMD).
10 ME Rev Stat § 1067 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1067. Remedies

 §1067. Remedies Any holder of revenue obligation securities or attached coupons issued under this subchapter and the trustee under any trust agreement, except as restricted by the authorizing resolution, the trust agreement or applicable financial document, may, by appropriate legal action, protect and enforce any and all rights under the laws of the State or granted under this subchapter, the resolution, the trust agreement or financial document, including the appointment of a receiver, and may enforce and compel the performance of all duties required by this subchapter, the resolution, the trust agreement or financial document to be performed by the municipality, the municipal officers or by any officer, including the collecting of rates, fees and charges for the use of the project. Any suit, action or proceeding shall be brought for the benefit of all the holders of the securities and coupons.   [PL 1985, c. 344, §91 (AMD).]SECTION HISTORY PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §91 (AMD).
10 ME Rev Stat § 1069 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1069. Authorizing resolution

 §1069. Authorizing resolution Notwithstanding any other law, either general, special or local, or any charter or charter amendment adopted by the municipality, or any ordinance, resolution, bylaw, rule or regulation of the municipality, it shall not be necessary to publish any resolution adopted under this chapter, either before or after its final passage.   [PL 1981, c. 476, §2 (NEW).]SECTION HISTORY PL 1981, c. 476, §2 (NEW).
10 ME Rev Stat § 1070 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1070. Leasehold or other interests of lessee taxable

 §1070. Leasehold or other interests of lessee taxable The interest of the lessee of any project is subject to taxation in the manner provided for fee interests in real estate and personal property in Title 36, sections 551 and 602, subject to the provisions of Title 36, sections 655 and 656.   [PL 1983, c. 480, Pt. B, §14 (AMD).]SECTION HISTORY PL 1981, c. 476, §2 (NEW). PL 1983, c. 480, §B14 (AMD).
10 ME Rev Stat § 1071 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1071. Tax exemption

 §1071. Tax exemption Revenue obligation securities issued under this subchapter shall constitute a proper public purpose and the securities, their transfer and the income from them, including any profit made on their sale, shall at all times be exempt from taxation within the State, whether or not those securities, their transfer or the income from them, including any profits made on their sale, are subject to taxation under the United States Internal Revenue Code, as amended.   [PL 1987, c. 393, §14 (AMD).]SECTION HISTORY PL 1981, c. 476, §2 (NEW). PL 1987, c. 393, §14 (AMD).
10 ME Rev Stat § 1072 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1072. Bonds as legal investments

 §1072. Bonds as legal investments The revenue obligation securities of the municipality and any loan or extension of credit issued under this subchapter, shall be legal investments in which all public officers and public bodies of the State, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, banking associations, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons who are now or may later be authorized to invest in bonds or other obligations of the State, may properly and legally invest funds, including capital, in their control or belonging to them. The revenue obligation securities and any loan or extension of credit which is issued under this subchapter are also made securities which may properly and legally be deposited with and received by all public officers and bodies of the State or any agency or political subdivisions and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the State is now or may later be authorized by law.   [PL 1985, c. 344, §93 (AMD).]SECTION HISTORY PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §93 (AMD).
10 ME Rev Stat § 1073 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1073. Successor to program

 §1073. Successor to program The Municipal Securities Approval Program is the successor to the program formerly administered by the Maine Guarantee Authority under Title 30, chapter 242, and all resolutions and actions taken by the Maine Guarantee Authority, without exception, relative to such program shall be a resolution or action taken by the Finance Authority of Maine.   [PL 1985, c. 714, §38 (AMD).]SECTION HISTORY PL 1983, c. 519, §19 (NEW). PL 1985, c. 714, §38 (AMD).
10 ME Rev Stat § 1074 (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1074. Taxable bond option

 §1074. Taxable bond option With respect to all or any portion of any issue of bonds or any series of bonds which any municipality may issue in accordance with the limitations and restrictions of this subchapter, the municipality may covenant and consent that the interest on the bonds shall be includable, under the United States Internal Revenue Code of 1954 or any subsequent corresponding internal revenue law of the United States, in the gross income of the holders of the bonds to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includable in the gross income of the holders under the United States Internal Revenue Code or any subsequent law. Bonds issued pursuant to this section shall not be subject to any limitations or restrictions of any law which may limit the municipality's power to issue those bonds or to the procedures set forth in section 1063 or in section 1064, subsection 1. Any bonds or issue or series of bonds with respect to which the municipality covenants and consents that the interest on the bonds shall be includable, under the United States Internal Revenue Code of 1954 or any subsequent corresponding internal revenue law of the United States in the gross income of the holders of the bonds to the same extent and in the same manner that interest on bills, bonds, notes or other obligations of the United States is includable in the gross income of the holders under the United States Internal Revenue Code or any subsequent law shall be a properly authorized, legal, valid, binding and enforceable obligation of the municipality, regardless of whether the bonds were authorized, executed, delivered or issued prior to or after the effective date of this section. The foregoing grant of power shall not be construed as limiting the inherent power of municipalities under any other provision of law to issue debt, the interest on which is includable in the gross income of the holders of the interest under the United States Internal Revenue Code or any subsequent law.   [RR 2009, c. 2, §10 (COR).]SECTION HISTORY PL 1985, c. 593, §7 (NEW). PL 1987, c. 393, §15 (AMD). RR 2009, c. 2, §10 (COR).
10 ME Rev Stat § 1074-A (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1074-A. Recovery zone facility bonds

 §1074-A. Recovery zone facility bonds 1.  Recovery zones; statewide designation.  The Legislature finds that the entire State is experiencing significant poverty, unemployment, increasing rate of home foreclosures and general distress and, as a result, to the extent permitted by federal law, designates the entire State as a recovery zone as defined under 26 United States Code, Section 1400U-1, as amended.   [PL 2009, c. 517, §11 (NEW).] 2.  Reallocation.  To the extent permitted by federal law, the entire allocation to the counties of the State of the national recovery zone facility bond limitation established pursuant to 26 United States Code, Section 1400U-1, as amended, and as described in Internal Revenue Service Notice 2009-50, Section 6.03 is reallocated to the authority, as long as one half of each such allocation is further reallocated by the authority to projects located within and identified by the county commissioners of the county to which such allocation was originally made, if so identified on or before June 1, 2010. The remaining one half of such allocations, together with any portion of an allocation initially subject to reallocation at the direction of the applicable county before June 1, 2010, but not so reallocated, may be reallocated by the authority for any project in any county of the State. Reallocations pursuant to this subsection are considered voluntary and affirmative waivers by the affected counties for the purposes of 26 United States Code, Section 1400U-1 et seq. and any regulations or guidance provided by the United States Department of the Treasury, Internal Revenue Service thereunder.   [PL 2009, c. 517, §11 (NEW).] SECTION HISTORY PL 2009, c. 517, §11 (NEW).
10 ME Rev Stat § 1074-B (2021)
2021 Maine Revised Statutes|TITLE 10: COMMERCE AND TRADE|Part 2: BUILDING AND DEVELOPMENT|Chapter 110: FINANCE AUTHORITY OF MAINE|Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM|10 §1074-B. Qualified energy conservation bonds

 §1074-B. Qualified energy conservation bonds 1.  Reallocation.  To the extent permitted by federal law, 30% of the allocation to the State and to the counties of the State of the national qualified energy conservation bond volume limitation established pursuant to 26 United States Code, Section 54D(e), as amended, and as described in Internal Revenue Service Notice 2009-29, Section 4 is reallocated to the authority as the issuer of qualified energy conservation bonds, for further reallocation by the authority for any project in any county of the State. Reallocations pursuant to this subsection are considered voluntary and affirmative waivers by the affected counties for the purposes of 26 United States Code, Section 54D et seq. and any regulations or guidance provided by the United States Department of the Treasury, Internal Revenue Service thereunder.   [PL 2009, c. 517, §12 (NEW).] SECTION HISTORY PL 2009, c. 517, §12 (NEW).