reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 3-A: MUNICIPAL INVESTMENTS › Article 2: INVESTMENTS IN SECURITIES › 30-A §5715. Other stock investments

§5715. Other stock investments
Municipalities may invest in:   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Preferred stock of public utilities.
The preferred stock of any public corporation if all of the publicly issued bonds of the corporation qualify as legal investments under section 5713, subsection 1 or 2. Not more than 10% of the permanent reserve fund, permanent trust fund or other permanent fund being invested may be invested in preferred stocks of public utilities, and not more than 1% of any such fund may be invested in the preferred stocks of any one corporation;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  Bonds of nonprofit organizations.
The bonds or other interest-bearing obligations of any religious, charitable, educational or fraternal association or corporation. Not more than 10% of the total assets of the permanent reserve fund, permanent trust fund or other permanent fund being invested may be invested in securities coming within the coverage of this subsection, and not more than 1% of the total assets of the permanent reserve fund, permanent trust fund or other permanent fund being invested may be invested in securities of any one such association or corporation;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
3.  Small business investment companies.
The stock of small business investment companies licensed under the United States Small Business Investment Act of 1958, as amended, and commercially domiciled in Maine and doing business primarily in Maine. Not more than 1% of the total assets of the permanent reserve fund, permanent trust fund or other permanent fund being invested may be invested in the stock of small business investment companies and any such fund shall not be invested in more than 10% of the stock of any one small business investment company; and
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
4.  Maine Capital Corporation.
The stock of the Maine Capital Corporation, established under Title 10, chapter 108, in an amount not to exceed 1% of the total assets of the permanent reserve fund, permanent trust fund or other permanent fund being invested.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 3-A: MUNICIPAL INVESTMENTS › Article 2: INVESTMENTS IN SECURITIES › 30-A §5716. Other prudent securities

§5716. Other prudent securities
Municipalities may invest in such securities as the municipal officers consider to be sound, prudent investments, the making of which would not otherwise be legal but for this section. Not more than 10% of the total assets of the permanent reserve fund, permanent trust fund or other permanent fund being invested may be invested in securities within the coverage of this section and investments in the stock of the State's financial institutions shall not be considered within this section. This section does not limit the authority of municipalities to invest in securities specifically regulated by this article; rather, this section gives additional authority to invest 10% in any type of prudent security.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 3-A: MUNICIPAL INVESTMENTS › Article 2: INVESTMENTS IN SECURITIES › 30-A §5717. Retention of unauthorized securities

§5717. Retention of unauthorized securities
Municipalities may acquire and hold securities not authorized by law, but which have been acquired in settlements, reorganizations, recapitalizations, mergers, consolidations, by receipt of stock dividends or the exercise of rights applicable to securities held by the municipalities and may continue to hold these securities at the discretion of the municipal officers. Municipalities may continue to hold at the discretion of the municipal officers securities under authorization of law.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 3-A: MUNICIPAL INVESTMENTS › Article 2: INVESTMENTS IN SECURITIES › 30-A §5718. Standard of prudence

§5718. Standard of prudence
All investments made under this subchapter must be made with the judgment and care that persons of prudence, discretion and intelligence, under circumstances then prevailing, exercise in the management of their own affairs, not for speculation but for investment, considering:   [PL 1995, c. 206, §2 (NEW).]
1.  Safety.
The safety of principal and preservation of capital in the overall portfolio;
[PL 1995, c. 206, §2 (NEW).]
2.  Maintenance of liquidity.
Maintenance of sufficient liquidity to meet all operating and other cash requirements with which a fund is charged that are reasonably anticipated; and
[PL 1995, c. 206, §2 (NEW).]
3.  Income.
The income to be derived throughout budgetary and economic cycles, taking into account prudent investment risk constraints and the cash-flow characteristics of the portfolio.
[PL 1995, c. 206, §2 (NEW).]
This standard must be applied to the overall investment portfolio of the municipality and not to individual items within a diversified portfolio.   [PL 1995, c. 206, §2 (NEW).]
SECTION HISTORY
PL 1995, c. 206, §2 (NEW).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 3-A: MUNICIPAL INVESTMENTS › Article 2: INVESTMENTS IN SECURITIES › 30-A §5719. Limitations on investments

§5719. Limitations on investments
A municipality's authority to invest municipal funds is limited to investments permitted under this subchapter and a municipality has no authority under home rule authority or otherwise to make any investments other than those permitted under this subchapter.   [PL 1995, c. 206, §2 (NEW).]
SECTION HISTORY
PL 1995, c. 206, §2 (NEW).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 4: EXPENDITURES › 30-A §5721. General authority

§5721. General authority
A municipality may raise or appropriate money for any public purpose, including, but not limited to, the purposes specified in sections 5722 to 5728.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 4: EXPENDITURES › 30-A §5723. Public works

§5723. Public works
A municipality may raise or appropriate money to:   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Parks and construction projects.
Provide for public buildings, ways, bridges, parks, parking places, sewers and drains;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  Dumps.
Provide for public dumps either within or outside its boundaries;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
3.  Cemeteries.
Provide for public cemeteries; maintain private cemeteries established before 1880; care for graves of veterans and maintain fences around cemeteries in which veterans are buried;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
4.  Flood control.
Provide for projects which have been approved by the Governor for improving navigation or preventing property damage by erosion or flood;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
5.  Fuel yard.
Provide a fuel yard for the purpose of selling fuel to its residents without financial profit to itself; and
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
6.  Water or sewer districts.
Provide financial assistance to a water or sewer district which is a quasi-municipal corporation, within or outside, or partly within or outside, the corporate limits of the municipality to the extent that the assisted district serves the municipality providing assistance.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 4: EXPENDITURES › 30-A §5727. Celebrations and commemorations

§5727. Celebrations and commemorations
A municipality may raise or appropriate money to:   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Anniversary.
Celebrate any anniversary of its settlement or incorporation and publish the proceedings of the celebration;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  Holidays.
Observe Memorial Day, Veterans Day and any other day set apart for commemoration;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
3.  Christmas.
Decorate for Christmas;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
4.  Music.
Support an organization to provide music for municipal functions and public celebrations; and
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
5.  Memorials for veterans.
Provide for monuments and memorials, and real estate suitable for their erection, to honor the veterans of the Armed Forces of the United States who sacrificed their lives in defense of their country.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 4: EXPENDITURES › 30-A §5728. General duties and operations

§5728. General duties and operations
A municipality may raise or appropriate money to:   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Duties.
Perform any of the duties required of it by law; and
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  Authorized by law.
Provide for any operations authorized by law which, by their nature, require the expenditure of money.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 4: EXPENDITURES › 30-A §5729. Federal and state grants

§5729. Federal and state grants
A municipality's acceptance of grants is governed by this section.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Federal.
Municipalities may apply for, accept and appropriate federal grants for any purpose for which federal grants are made available to municipalities either directly or through the State.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  State.
Municipalities may apply for, accept and appropriate state grants for any purpose for which state grants are made available to municipalities either directly or through a state agency.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 4: EXPENDITURES › 30-A §5730. Historic and scenic preservation

§5730. Historic and scenic preservation
Pursuant to the Constitution of Maine, Article IX, Section 8, Subsection 5, a municipality may raise or appropriate money to reimburse taxpayers for a portion of taxes paid under Title 36, Part 2 on real property if the property owner agrees to maintain the property in accordance with criteria that are adopted by ordinance by the governing legislative body of the municipality and that provide for maintaining the historic integrity of important structures or providing a scenic view. The Maine Historic Preservation Commission shall provide guidance, if requested by a municipality, in implementing this section.   [PL 1999, c. 626, §1 (NEW).]
SECTION HISTORY
PL 1999, c. 626, §1 (NEW).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 5: TAX BASE SHARING › 30-A §5751. Purpose

§5751. Purpose
It is the purpose of this subchapter to increase the likelihood of orderly development and to provide an incentive for coordinated multi-community economic development by permitting 2 or more communities to share their tax base.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 5: TAX BASE SHARING › 30-A §5752. Tax base sharing agreement

§5752. Tax base sharing agreement
1.  Agreement.
Any 2 or more municipalities may, by a vote of their legislative bodies, enter into an agreement to share all or a specific part of the commercial, industrial or residential assessed valuation located within their respective communities. Municipalities that vote to enter into an agreement pursuant to this section are not required to have borders that are contiguous.
[PL 1997, c. 663, §1 (AMD).]
2.  Specifications.
Any such agreement must specify:
A. A duration which must be at least 5 years;   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
B. A description of the tax base that is to be shared, expressed in terms of type of property or location of property;   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
C. The formula for sharing the property taxes generated through taxation of the valuation that is to be shared; and   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
D. Any other necessary and proper matters.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
3.  Administration.
The shared valuation must be assessed in the municipality in which the property is located. It must be taxed at the rate applicable in that municipality. The tax so assessed must be collected by the municipality in which the property is located and the share of that tax, as specified in the tax base sharing agreement, must be remitted within 15 days after collection or within such other period of time as the parties to the tax base sharing agreement specify to the other municipality or municipalities on the basis of the terms of the agreement to which they are parties. The municipality in which the property is located may be authorized by the tax base sharing agreement to make payments due to the other municipality or municipalities that are parties to the agreement to another party or entity. Payments to another party or entity must be for purposes that have a general public benefit.
[PL 1999, c. 550, §1 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD). PL 1997, c. 663, §1 (AMD). PL 1999, c. 550, §1 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 5: TAX BASE SHARING › 30-A §5753. Filing of agreement

§5753. Filing of agreement
Before becoming effective, any agreement made under this subchapter must be filed with the clerk of each municipality and with the Secretary of State.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 6: BORROWING › 30-A §5771. Revenue anticipation notes; fiscal year

§5771. Revenue anticipation notes; fiscal year
A municipality by vote of its municipal officers may in any municipal year borrow money temporarily and issue notes in anticipation of taxes, and state and federal revenue-sharing money.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Amount.
The amount borrowed in anticipation of taxes shall not exceed the total tax levy of the preceding municipal year or of the 2 preceding municipal years if together they do not extend beyond a period of 18 months. The amount borrowed in anticipation of state or federal revenue sharing shall not exceed the amount of revenue-sharing entitlements projected by the paying units of government for the current period of entitlement.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  When paid.
The tax anticipation notes must be paid within one month after the end of the municipal year in which they were made, except during a transition to a new municipal year the notes must be paid within 18 months of the first day of the municipal year in which they were made. The notes issued in anticipation of taxes must be paid out of money raised by taxation. The notes issued in anticipation of revenue-sharing money must be paid out of money received as a result of revenue sharing.
[PL 1991, c. 121, Pt. A, §5 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD). PL 1991, c. 121, §A5 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 7: RESERVE FUND › 30-A §5801. Establishment

§5801. Establishment
A municipality may establish a reserve fund, consisting of one or more accounts, by appropriating money or by authorizing the transfer of unencumbered surplus funds at the end of any fiscal year for the following purposes:   [PL 1987, c. 737, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Capital improvement account.
Financing the acquisition or reconstruction of a specific, or a type of, capital improvement;
[PL 1987, c. 737, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  Capital equipment account.
Financing the acquisition of a specific item or type of capital equipment;
[PL 1987, c. 737, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
3.  Credit reserve account.
Providing a reserve which may be applied in periods of financial emergency to assist in continuing its normal operation without increasing the tax rate.
A. The annual appropriation for this purpose may not exceed 5% of the current tax commitment.   [PL 1987, c. 737, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
B. When the municipal legislative body determines that a financial emergency exists, it may order the withdrawal of the necessary amount from the account; and   [PL 1987, c. 737, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
[PL 1987, c. 737, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
4.  Sinking fund account.
Paying a funded debt.
A. Any assets remaining in a sinking fund account, other than its own bonds, shall be withdrawn from the account when the debt for the payment of which it was established has been refunded. The legislative body may pledge the assets for payment of the new debt or may order them transferred to another account.   [PL 1987, c. 737, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
[PL 1987, c. 737, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 7: RESERVE FUND › 30-A §5802. Trustees

§5802. Trustees
The municipal officers are trustees of the municipal reserve fund.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Fund deposited or invested.
They shall deposit or invest the fund according to subchapter III‑A.
A. Any interest earned or capital gains realized shall accrue to and become part of the fund. Unless otherwise ordered by the municipal legislative body, interest and capital gains shall be prorated among the various accounts.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  Purpose of expenditure.
An expenditure from any account of the fund may be made only for the specific purpose for which the account was established.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
3.  Transfer of balance.
The balance of any account of a reserve fund may be transferred to another reserve account or to surplus when the purpose for which it was established has been accomplished or abandoned.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
4.  Use of fund for purpose not provided for.
Notwithstanding Title 17‑A, section 4‑A, any municipal official who uses the assets of any account of the reserve fund in any manner or for any purpose other than that provided by the municipality is guilty of a Class C crime and shall be punished by a fine of not more than $2,000 or by imprisonment for not more than 2 years.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 8: ACCOUNTS AND AUDITS › 30-A §5821. Uniform accounting system

§5821. Uniform accounting system
Each municipality and each quasi-municipal corporation, including, but not limited to, various types of districts or corporations embracing a portion of a municipality, a single municipality or several municipalities not under the jurisdiction of the Public Utilities Commission, shall:   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Accounting records.
Keep its accounting records in conformity with generally accepted principles of municipal accounting; and
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  Uniform classification.
Use a uniform classification for revenue, expenditures and balance sheet accounts.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 8: ACCOUNTS AND AUDITS › 30-A §5822. Investigation of accounting and auditing system

§5822. Investigation of accounting and auditing system
The State Auditor may inquire into the accounting and auditing system of any municipality or any quasi-municipal corporation not under the jurisdiction of the Public Utilities Commission. The officers of that municipality or quasi-municipal corporation shall furnish information pertaining to the system in the form prescribed by the State Auditor.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 8: ACCOUNTS AND AUDITS › 30-A §5824. Witnesses and records

§5824. Witnesses and records
The State Auditor may subpoena witnesses and records and may examine witnesses under oath in all matters arising under sections 5821 to 5823.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 8: ACCOUNTS AND AUDITS › 30-A §5825. State Auditor's report on financial matters (REPEALED)

§5825. State Auditor's report on financial matters
(REPEALED)
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD). PL 2015, c. 44, §13 (RP).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 223: MUNICIPAL FINANCES › Subchapter 8: ACCOUNTS AND AUDITS › 30-A §5826. Penalties

§5826. Penalties
A public official who neglects or refuses to perform any duty imposed by sections 5821 to 5823:   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.  Civil violation.
Commits a civil violation for which a forfeiture of not more than $100 may be adjudged; and
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  Forfeiture of office.
Forfeits his office.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 1: GENERAL PROVISIONS › 30-A §5901. Title

§5901. Title
This chapter shall be known and may be cited as the "Maine Municipal Bond Bank Act."   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 1: GENERAL PROVISIONS › 30-A §5904. Liberal construction of chapter

§5904. Liberal construction of chapter
This chapter shall be construed liberally to effectuate the legislative intent and the purposes of this chapter as complete and independent authority for the performance of each and every act and thing authorized in this chapter and all powers granted in this chapter shall be broadly interpreted to effectuate that intent and purposes and not as a limitation of powers.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 2: ESTABLISHMENT AND POWERS › 30-A §5952. Conflict of interest

§5952. Conflict of interest
No commissioner of the bank may participate in any decision on any contract entered into by the bank, if the commissioner has any pecuniary interest, direct or indirect in any firm, partnership, corporation or association which is or may be a party to the contract.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
Contracts or agreements obtained through properly advertised bid procedures, or the ownership of stock or other interest in any firm, partnership, corporation or association in which the commissioner does not actively participate in day-to-day management shall not be interpreted as a direct or indirect pecuniary interest in violation of this chapter.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 2: ESTABLISHMENT AND POWERS › 30-A §5953. Lending and borrowing powers generally

§5953. Lending and borrowing powers generally
1.  Powers.
For the purposes authorized by this chapter, the bank may:
A. Lend money to governmental units through the bank's purchase of municipal securities of governmental units in fully marketable form;   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
B. Authorize and issue its bonds and notes payable solely from the revenues or funds available to the bank for that purpose;   [PL 1991, c. 605, §3 (AMD).]
C. Otherwise assist governmental units as provided in this chapter; and   [PL 1991, c. 605, §3 (AMD).]
D. Borrow money and make the borrowing proceeds available to the municipality at terms agreed upon by the bank and the municipality.   [PL 1993, c. 2, §6 (AMD).]
[PL 1993, c. 2, §6 (AMD).]
2.  Payment; state not liable.
Bonds and notes of the bank issued under this chapter are not in any way a debt or liability of the State and do not constitute a loan of the credit of the State or create any debt or debts, liability or liabilities on behalf of the State or constitute a pledge of the faith and credit of the State. All bonds and notes of the bank issued under this chapter, unless funded or refunded by bonds or notes of the bank, are payable solely from revenues or funds pledged or available for their payment as authorized in this chapter. Each bond and note shall contain on its face a statement to the effect that the bank is obligated to pay the principal or interest and redemption premium, if any, and that neither the faith and credit nor the taxing power of the State is pledged to the payment of the principal of or the interest on the bonds or notes.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
3.  Expenses.
All expenses incurred in carrying out the purposes of this chapter are payable solely from revenues or funds provided under this chapter. Nothing in this chapter may be construed to authorize the bank to incur any indebtedness or liability on behalf of or payable by the State.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD). PL 1991, c. 605, §§3,4 (AMD). PL 1991, c. 775, §2 (AMD). PL 1993, c. 2, §6 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 2: ESTABLISHMENT AND POWERS › 30-A §5953-F. Recovery zone economic development bonds; qualified energy conservation bonds

§5953-F. Recovery zone economic development bonds; qualified energy conservation bonds
To the extent permitted by federal law, the county commissioners of any county may authorize the bank to issue recovery zone economic development bonds or qualified energy conservation bonds on behalf of that county.   [PL 2009, c. 517, §17 (NEW).]
1.  Recovery zone economic development bonds.
To the extent permitted by federal law, the allocation to counties of the national recovery zone economic development 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 bank for further reallocation by the bank for any project in any county of the State, as long as one half of each such allocation is further reallocated by the bank 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 July 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 July 1, 2010, but not so reallocated, may be reallocated by the bank for any project in any county of the State.
[PL 2009, c. 517, §17 (NEW).]
2.  Qualified energy conservation bonds.
To the extent permitted by federal law, 70% 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 bank for further reallocation by the bank for any project in any county of the State, as long as one half of each such allocation is further reallocated by the bank 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 July 1, 2011. 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 July 1, 2011, but not so reallocated, may be reallocated by the bank for any project in any county of the State.
[PL 2009, c. 517, §17 (NEW).]
3.  Waivers.
Reallocations pursuant to this section are considered voluntary and affirmative waivers by the affected counties for the purposes of 26 United States Code, Section 54D et seq. and 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, §17 (NEW).]
SECTION HISTORY
PL 2009, c. 517, §17 (NEW).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 2: ESTABLISHMENT AND POWERS › 30-A §5953-G. Additional securities; career and technical education centers and regions

§5953-G. Additional securities; career and technical education centers and regions
1.  Additional securities.
The bond bank may issue additional securities in an aggregate amount not to exceed $20,000,000 for equipment purchases or building infrastructure necessary to support new or updated equipment to career and technical education centers and career and technical education regions in accordance with this section, and the additional securities must be used for those purposes.
[PL 2023, c. 17, Pt. I, §1 (AMD).]
2.  Issuance.
The bond bank may not issue any additional securities pursuant to this section after June 30, 2025.
[PL 2023, c. 17, Pt. I, §2 (AMD).]
3.  Report.
The bond bank shall report to the joint standing committee of the Legislature having jurisdiction over education and cultural affairs upon the maturity of all bond proceeds pursuant to this section. The joint standing committee of the Legislature having jurisdiction over education and cultural affairs may report out a bill to repeal this section and any related provisions of law upon receipt of that report.
[PL 2021, c. 635, Pt. X, §10 (NEW).]
4.  Department of Education application; criteria.
A career and technical education center or career and technical education region may submit an application for a project, projects or part of any project, as defined in Title 4, section 1603, subsection 7, to the Department of Education. The Department of Education shall establish criteria for the approval of any project, projects or part of any project. The Department of Education shall notify the bond bank of any approved project, projects or part of any project under this subsection.
[PL 2021, c. 635, Pt. X, §10 (NEW).]
5.  Debt service.
Debt service costs for bonds issued by the bond bank to career and technical education centers and career and technical education regions for equipment purchases pursuant to this section must be paid by the State. Debt service costs must be paid by the Commissioner of Education to the bond bank according to each career and technical education center's or career and technical education region's debt retirement schedule developed by the bond bank. All debt service costs must be paid by the Commissioner of Education to the bond bank 15 days prior to the date of the career and technical education center's or career and technical education region's next debt service cost payment as outlined in the career and technical education center's or career and technical education region's debt retirement schedule.
[PL 2021, c. 635, Pt. X, §10 (NEW).]
SECTION HISTORY
PL 2021, c. 635, Pt. X, §10 (NEW). PL 2023, c. 17, Pt. I, §§1, 2 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 2: ESTABLISHMENT AND POWERS › 30-A §5954-A. Aggregation service

§5954-A. Aggregation service
1.  Authority.
In addition to its other enumerated powers, but subject to the limitations imposed under subsection 2, the bank, on behalf of or in partnership with one or more governmental units or nonprofit corporations organized under the Internal Revenue Code, Section 501, may aggregate governmental units and nonprofit corporations to purchase in bulk electricity, petroleum products, fuel oil and natural gas.
[PL 2005, c. 190, §1 (AMD).]
2.  Conditions; limitations.
In exercising its authority under subsection 1, the bank:
A. Is subject to all applicable provisions of law, including the provisions of Title 35‑A relating to aggregators of customers of electricity;   [PL 1999, c. 231, §2 (NEW).]
B. Must provide to any entity to whom it offers to provide services under subsection 1 notice that the entity is under no obligation to accept any of the services and that no other service provided by the bank is conditional upon or affected by the entity's acceptance or rejection of the offer;   [PL 1999, c. 231, §2 (NEW).]
C. May not extend credit or vary the terms of credit based on an entity's acceptance or rejection of an offer by the bank to provide services pursuant to subsection 1; and   [PL 1999, c. 231, §2 (NEW).]
D. May not encourage or otherwise seek to persuade any entity to accept any services offered by the bank pursuant to subsection 1, if the entity has an application with the bank for a loan, until after the bank has taken final action on approving or rejecting the application.   [PL 1999, c. 231, §2 (NEW).]
[PL 1999, c. 231, §2 (NEW).]
SECTION HISTORY
PL 1999, c. 231, §2 (NEW). PL 2005, c. 190, §1 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 2: ESTABLISHMENT AND POWERS › 30-A §5956. State services

§5956. State services
1.  State assistance authorized.
All state officers, departments, boards, agencies, divisions and commissions may provide any service to the bank that is:
A. Requested by the bank; and   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
B. Within the area of their governmental functions as established by law.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
2.  Study or review requests.
All state officers, departments, boards, agencies, divisions and commissions shall promptly comply with any reasonable request made by the bank under subsection 1, as to the making of any study or review as to:
A. The desirability, need, cost or expense with respect to any such public project, purpose or improvement;   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
B. The financial feasibility of the project; or   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
C. The financial or fiscal responsibility or ability in connection with the project of any governmental unit applying to the bank for a loan and for the bank's purchase of municipal securities to be issued by the governmental unit.   [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
3.  Cost of services.
At the request of the officer, department, board, agency, division or commission providing the service, the bank shall pay the cost and expense of any services requested by the bank.
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).