reglab/statecodes huggingface dataset:
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 §5957. Allocation of state ceiling; recovery zone economic development bonds; qualified energy conservation bonds

§5957. Allocation of state ceiling; recovery zone economic development bonds; qualified energy conservation bonds
By rulemaking under Title 5, chapter 375, subchapter 2, the bank may establish a process for allocation and carry-forward of that portion of the state ceiling on issuance of tax-exempt bonds allocated to the bank under Title 10, chapter 9. The executive director of the Maine Municipal Bond Bank is designated as the state official authorized to issue the certification under the United States Code, Title 26, Section 149(e)(2)(F), as amended, for allocations of the state ceiling allocated to the bank pursuant to Title 10, chapter 9.   [PL 2009, c. 517, §18 (AMD).]
By routine technical rulemaking defined under Title 5, chapter 375, subchapter 2‑A the bank may establish a process for allocation of that portion of the national recovery zone economic development bond limitation established pursuant to 26 United States Code, Section 1400U‑1, or that portion of the national qualified energy conservation bond limitation established pursuant to 26 United States Code, Section 54D, waived by any county or reallocated pursuant to section 5953‑F and for designation by the bank of recovery zone economic development bonds and qualified energy conservation bonds.   [PL 2009, c. 517, §18 (NEW).]
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 1989, c. 224, §3 (AMD). PL 2009, c. 517, §18 (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 §5958. Prohibited acts and limitation of powers

§5958. Prohibited acts and limitation of powers
The bank may not:   [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.  Loans.
Make loans of money to any person other than a governmental unit or purchase securities issued by any person other than a governmental unit or for investment, except as provided in 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).]
2.  Banking business.
Emit bills of credit, accept deposits of money for time or demand deposit, administer trust, engage in any form or manner in, or in the conduct of, any private or commercial banking business or act as a savings bank or savings and loan association; 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).]
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 or the comptroller of the currency of the United States or the United States Department of the Treasury.
[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 2001, c. 44, §11 (AMD); PL 2001, c. 44, §14 (AFF).]
Nothing in this chapter may be construed to authorize or to empower the bank to be or to 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 or of the State or of any other state or jurisdiction, domestic or foreign.   [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 2001, c. 44, §11 (AMD). PL 2001, c. 44, §14 (AFF).
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 §5959. Rules; reports

§5959. Rules; reports
1.  Rules.
Appropriate state agencies and the bank may adopt rules and policies necessary to:
A. Implement sections 5953‑A, 5953‑B, 6006‑A, 6006‑B and 6006‑D to ensure the self-sustaining nature of the funds created under sections 6006‑A and 6006‑B and that portion of the fund under section 6006‑D determined to be self-sustaining; and   [PL 1999, c. 668, §118 (AMD).]
B. Ensure compliance with the Federal Water Pollution Control Act, Title VI and the Federal Safe Drinking Water Act and their amendments.   [PL 1991, c. 605, §11 (NEW).]
[PL 1999, c. 668, §118 (AMD).]
2.  Contractual authority; reports.
The Department of Environmental Protection, the Department of Health and Human Services and the bank may enter into agreements and shall provide notice as provided in this subsection.
A. The Department of Environmental Protection, the Department of Health and Human Services and the bank may enter into agreements on behalf of the State with agencies of the United States as may be necessary to obtain grants and awards in furtherance of the stated purposes for which the revolving loan funds created under sections 6006‑A and 6006‑B are established and take all other actions necessary to comply with the Federal Water Pollution Control Act, Title VI, and the federal Safe Drinking Water Act of 1996 and their amendments provided that notice of each of the agreements is made in a timely fashion to the Governor.   [PL 1997, c. 555, §4 (AMD); PL 2003, c. 689, Pt. B, §6 (REV).]
B. Annually, the Department of Environmental Protection and the bank shall notify the Governor of the amount of the fund created under section 6006‑A anticipated to be available for the next fiscal year.   [PL 1991, c. 605, §11 (NEW).]
B-1. Annually, the Department of Health and Human Services and the bank shall notify the Governor of the amount of the fund created under section 6006‑B anticipated to be available for the next fiscal year.   [PL 1997, c. 555, §4 (NEW); PL 2003, c. 689, Pt. B, §6 (REV).]
C. The bank is designated by the State as the instrumentality empowered to:
(1) Administer the revolving loan funds, in conjunction with the Department of Environmental Protection and the Department of Health and Human Services;
(2) Accept capitalization grants or other deposits of funds from the Federal Government or any other source made under the Federal Water Pollution Control Act, Title VI or the federal Safe Drinking Water Act; and
(3) Manage the revolving loan funds in accordance with applicable federal and state laws, rules and regulations.   [PL 1997, c. 555, §4 (AMD); PL 2003, c. 689, Pt. B, §6 (REV).]
[PL 1997, c. 555, §4 (AMD); PL 2003, c. 689, Pt. B, §6 (REV).]
SECTION HISTORY
PL 1989, c. 48, §§20,31 (NEW). PL 1991, c. 605, §§11,12 (AMD). RR 1993, c. 2, §29 (COR). PL 1993, c. 721, §D4 (AMD). PL 1993, c. 721, §H1 (AFF). PL 1997, c. 555, §4 (AMD). PL 1999, c. 668, §118 (AMD). PL 2003, c. 689, §B6 (REV).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 3: FINANCIAL OPERATION › 30-A §6001. Budget

§6001. Budget
Not later than June 1st of 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. This budget:   [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.  Quarterly requirements.
Shall be prepared on the basis of quarterly requirements so that it will be possible to determine from the budget the operating expenses for each quarter of the year;
[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.  General categories.
Shall set forth the general categories of anticipated expenditures and the amount on account of each;
[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.  Reserves.
Shall include provisions for reserve for contingencies and for overexpenditures; 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.  Others.
May set forth any additional material that the bank determines.
[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 3: FINANCIAL OPERATION › 30-A §6002. Annual report

§6002. Annual report
On or before the last day of December in each year, the bank shall make an annual report of its activities for the preceding fiscal year to the Governor. This report shall set forth a complete operating and financial statement covering its operations during the year. The bank shall have an audit of its books and accounts made at least once in each year by certified public accountants. The cost of the audit is considered an expense of the bank. A copy of the audit shall be filed with the Treasurer 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 225: MAINE MUNICIPAL BOND BANK › Subchapter 3: FINANCIAL OPERATION › 30-A §6004. Resolutions and indentures

§6004. Resolutions and indentures
1.  Trust agreement or trust indenture authorized.
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 those bonds or notes may, by provisions in the resolution, enter into any trust agreement or trust indenture with a corporate trustee. That trustee may be any trust company or national banking association or state bank, within or outside the State, having the powers of a trust company. The provisions in the resolution constitute covenants by the bank and contracts with the holders of 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).]
2.  Provisions of indenture, agreement or resolution.
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 any provisions for protecting and enforcing the rights and remedies of the holders of the bonds and notes that are reasonable and proper and not in violation of law, including the custody, safeguarding and application of all money. The 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 the 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 proceeds and revenues, with any safeguards and restrictions that it determines.
[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; no separate trustee for holders.
All expenses incurred in carrying out a trust indenture under this section may be treated as a part of the operating expenses of the bank. If the bonds are secured by a trust indenture, the bondholders may not appoint a separate trustee to represent them.
[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 3: FINANCIAL OPERATION › 30-A §6005. Intent of pledge

§6005. Intent of pledge
Any pledge of revenue or other money made by the bank is valid and binding when the pledge is made. The revenues or other money so pledged and thereafter received by the bank is immediately subject to the lien of the pledge without any physical delivery of the revenues or other money. The lien of any such pledge is valid and binding against all parties having claims of any kind in tort, contract or otherwise against the bank, regardless of whether those parties have notice of the pledge. 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. 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 3: FINANCIAL OPERATION › 30-A §6006-E. Maine school facilities finance lease-purchase program

§6006-E. Maine school facilities finance lease-purchase program
In addition to and in furtherance of any other assistance available to a school administrative unit in this chapter, the bank, in cooperation with the Department of Education, shall establish a lease-purchase program for buildings to be used by all school administrative units whose school facility lease-purchase payments receive reimbursement, subsidy or other payment from the State. For the purposes of this section, a lease-purchase program is a system for awarding leases for a school administrative unit pursuant to a competitive bidding process.   [PL 1999, c. 81, §15 (AMD).]
SECTION HISTORY
PL 1997, c. 787, §13 (NEW). PL 1999, c. 81, §15 (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 3: FINANCIAL OPERATION › 30-A §6008. Additional reserves and funds

§6008. Additional reserves and funds
The bank may establish any additional and further reserves or any other funds or accounts that are, in its discretion, necessary, desirable or convenient to further the accomplishment of the purposes of the bank to comply with the provisions of any agreement made by or any resolution of 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).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 3: FINANCIAL OPERATION › 30-A §6009. Application of money

§6009. Application of money
Money or investments in any fund or account of the bank established or held for any bonds, notes, indebtedness or liability to be paid, funded or refunded by the issuance of bonds or notes shall, unless the resolution authorizing the bonds or notes provides otherwise, be applied to the payment or retirement of those bonds, notes, indebtedness or liability, and to no other purpose. If there is any money in any such fund or account in excess of the amount required for the payment, funding or refunding, that money may be removed from the fund or account, but only to the extent that the money or investments remaining in the fund or account are not less than the outstanding bonds, notes, indebtedness or liability of the bank to be paid, funded or refunded and for which the fund or account was established or held.   [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 3: FINANCIAL OPERATION › 30-A §6010. Purchase of bonds and notes of bank

§6010. 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 these bonds or notes subject to and in accordance with agreements with holders of its 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).]
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 3: FINANCIAL OPERATION › 30-A §6011. Bonds as legal investments and security

§6011. Bonds as legal investments and security
Notwithstanding any restrictions contained in any other law, the State and all public officers, governmental units and agencies of the State, 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 under this chapter. These bonds or notes are authorized security for any and all public deposits.   [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 3: FINANCIAL OPERATION › 30-A §6012. Tax exemptions

§6012. Tax exemptions
All property of the bank and all bonds and notes issued under this chapter are deemed to constitute essential public and governmental purposes and the property and the bonds and notes so issued, their transfer and the income from those bonds and notes, including any profits made on the sale of the bonds or notes, are at all times exempt from taxation within 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).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 3: FINANCIAL OPERATION › 30-A §6013. Insurance or guaranty

§6013. Insurance or guaranty
1.  Insurance or guaranty authorized.
The bank may obtain any insurance or guaranty from any department or agency of the United States or nongovernmental insurer, as to, or of, or for, the payment or repayment of, interest or principal, or both, or any part of the interest and principal on:
A. Any bonds or notes issued by the bank; 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).]
B. Any municipal securities of governmental units purchased or held by the bank under 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).]
[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.  Contracts and agreements for insurance.
Notwithstanding any other provisions of this chapter, the bank may enter into any agreement or contract with respect to any insurance or guaranty under this section, except to the extent that the agreement or contract would in any way impair or interfere with the bank's ability to perform and fulfill the terms of any agreement made with the holders of the bonds or notes of 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).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 3: FINANCIAL OPERATION › 30-A §6014. Governmental unit intercept

§6014. Governmental unit intercept
The Treasurer of State may receive from the Federal Government any amount of money as appropriated, allocated, granted, turned over or in any way provided for the purposes of the bank or this chapter. Unless otherwise directed by federal authority, these amounts must be credited to and deposited in the General Fund and are available to the bank.   [PL 1997, c. 787, §14 (AMD).]
The Treasurer of State shall pay and deposit in the General Fund and make available to the bank, any funds or money in the treasurer's custody or control whether the funds or money is available because of any grant, allocation or appropriation by the Federal Government or the State or any state agency to assist any governmental unit in paying its municipal securities or school construction loan liability under section 5953-E, referred to in this section as "loan liability," owned or held by the bank, or required by the terms of any other law to be paid to holders or owners of municipal securities or loan liability upon failure or default of a governmental unit to pay the principal of or interest on its municipal securities or loan liability when due and payable, to the extent that any such funds or money is applicable with respect to municipal securities or loan liability of a particular governmental unit that are then owned or held by the bank and as to which that governmental unit has failed or defaulted to make payment of principal or interest as and when due and payable.   [PL 1997, c. 787, §14 (AMD).]
To the extent that the Treasurer of State is the custodian of any funds or money due or payable to a governmental unit at any time after written notice to the Treasurer of State from the bank to the effect that the governmental unit has not paid or is in default as to the payment of principal of or interest on any municipal securities or loan liability of that governmental unit then held or owned by the bank, the Treasurer of State shall withhold the payment of such funds or money from the governmental unit until the amount of the principal or interest then due and unpaid has been paid to the bank, or the Treasurer of State has been advised that arrangements, satisfactory to the bank, have been made for the payment of the principal and interest.   [PL 1997, c. 787, §14 (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. 787, §14 (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 3: FINANCIAL OPERATION › 30-A §6015. Undertakings of depositories

§6015. Undertakings of depositories
1.  Undertakings; securities as collateral.
All national banking associations or state banks, trust companies, savings banks, investment companies and other persons carrying on a banking business may give to the bank a good and sufficient undertaking with sureties approved by the bank to the effect that the national banking association or state bank or banking institution, as described, will faithfully keep and pay over to the order of or upon the warrant of the bank or its authorized agent, all the funds deposited with it by the bank and agreed interest on those funds under this chapter, at such times or upon such demands as are agreed with the bank.
A. Instead of those sureties, the national banking association or state bank or banking institution as described may deposit with the bank or its authorized agent or any trustee for the bank or for the holders of any bonds, as collateral, any securities approved 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).]
[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.  Deposit agreement.
The deposits of the bank may be evidenced by an agreement in the form and upon the terms and conditions agreed upon by the bank and the national banking association or state bank or banking institution.
[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 3: FINANCIAL OPERATION › 30-A §6017. Remedies on default of municipal securities

§6017. Remedies on default of municipal securities
If a governmental unit defaults in the payment of interest on or principal of any municipal securities owned or held by the bank when due and payable by the governmental unit, the bank shall proceed to enforce payment under applicable provisions of law of the interest or principal or other amounts then due and payable.   [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 3: FINANCIAL OPERATION › 30-A §6018. Purchase of anticipation notes

§6018. Purchase of anticipation notes
The bank may purchase notes of any governmental unit issued in anticipation of the sale of municipal securities in an amount not exceeding at any one time outstanding the authorized amount of those municipal securities. The issue and sale of those anticipation notes must be in accordance with the laws applying to the governmental unit issuing the notes. In connection with any such purchase of anticipation notes, the bank may by agreement with the governmental unit impose any terms, conditions and limitations that 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 the rights, remedies and provisions of law that it has under this section or provided elsewhere in this chapter or as otherwise provided 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).]
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 3: FINANCIAL OPERATION › 30-A §6019. Agreements with financial institutions

§6019. Agreements with financial institutions
1.  Agreements.
The bank may enter into any agreements or contracts with any commercial banks, trust companies, banking or other financial institutions within or outside the State that are necessary, desirable or convenient in the opinion of the bank for the following purposes:
A. To provide services to the bank in connection with the care, custody or safekeeping of municipal securities or other investments held or owned 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).]
B. To provide services to the bank in connection with the payment or collection of amounts due and payable as to principal or interest;   [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. To provide services to the bank in connection with the delivery to the bank of municipal securities or other investments purchased by it or sold by it; 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. To pay the cost of services provided under 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).]
[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.  Requiring security.
The bank may, in connection with any of the services provided by commercial banks, trust companies or banking or other financial institutions, as to the custody and safekeeping of any of its municipal securities or investments, require security in the way of collateral bonds, surety agreements or security agreements in the form and amount that, in the opinion of the bank, is necessary or desirable for the purpose of 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).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 3: FINANCIAL OPERATION › 30-A §6020. Form of municipal securities and investments

§6020. Form of municipal securities and investments
All municipal securities 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 municipal securities at any time purchased, held or owned by the bank must upon delivery to the bank be accompanied by documentation including:   [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.  Bond opinion.
Approving bond opinion;
[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.  Signature certification.
Certification and guaranty as to signatures;
[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.  Litigation certification.
Certification as to the absence of litigation; 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.  Other documentation.
Any other or further documentation that is required from time to time in the municipal bond market.
[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 3: FINANCIAL OPERATION › 30-A §6021. Presumption of validity

§6021. 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 governmental unit is estopped from questioning their authorization, sale, issuance, execution or delivery 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).]
To the extent that this chapter is inconsistent with or in conflict with any private or special Act or the charter of any district or other quasi-municipal corporation, this chapter shall be effective and such other private or special Act or charter of any district or other quasi-municipal corporation does not apply. This chapter is not intended to affect the general laws relating to municipalities, Part 2, in any way.   [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 3: FINANCIAL OPERATION › 30-A §6022. Exemption of property from execution sale

§6022. Exemption of property from execution sale
All property of the bank is exempt from levy and sale by virtue of an execution. 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 in this chapter may apply to or limit 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. 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.  Action on resolution.
Any action or proceeding in any court to set aside a resolution authorizing the bank's issuance of bonds or notes under this chapter or to obtain any relief upon the ground that the resolution is invalid must be commenced within 30 days after the bank adopts the resolution. After this period of limitation expires, 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. 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 3: FINANCIAL OPERATION › 30-A §6024. Personal liability

§6024. Personal liability
Neither the commissioners of the bank nor any person executing bonds or notes issued under this chapter may be liable personally on those bonds or notes by reason of the issuance of 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).]
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 4: PENSION COST REDUCTION BONDS › 30-A §6041. Legislative findings (REPEALED)

§6041. Legislative findings
(REPEALED)
SECTION HISTORY
PL 2005, c. 12, §PPPP1 (NEW). PL 2005, c. 457, §A1 (AFF).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 4: PENSION COST REDUCTION BONDS › 30-A §6042. Pension cost reduction bonds authorized (REPEALED)

§6042. Pension cost reduction bonds authorized
(REPEALED)
SECTION HISTORY
PL 2005, c. 12, §PPPP1 (NEW). PL 2005, c. 457, §A1 (AFF).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 4: PENSION COST REDUCTION BONDS › 30-A §6043. Maine Municipal Bond Bank provisions (REPEALED)

§6043. Maine Municipal Bond Bank provisions
(REPEALED)
SECTION HISTORY
PL 2005, c. 12, §PPPP1 (NEW). PL 2005, c. 457, §A1 (AFF).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 4: PENSION COST REDUCTION BONDS › 30-A §6044. Construction (REPEALED)

§6044. Construction
(REPEALED)
SECTION HISTORY
PL 2005, c. 12, §PPPP1 (NEW). PL 2005, c. 457, §A1 (AFF).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 225: MAINE MUNICIPAL BOND BANK › Subchapter 5: LIQUOR OPERATION REVENUE BONDS › 30-A §6051. Declaration of public policy; funding

§6051. Declaration of public policy; funding
The Legislature finds and declares that revenue financing bonds as authorized in this subchapter are tax-exempt or taxable bonds payable from sources as provided in this subchapter and such bonds do not include a legal or equitable claim against tax revenues of the State and do not represent constitutional debt of or a pledge of the full faith and credit of the State. The Legislature also finds that issuance of the revenue financing bonds authorized in this subchapter and use of the proceeds of those bonds do not violate the terms of the Constitution of Maine, Article V, Part Third.   [PL 2013, c. 269, Pt. B, §2 (NEW).]
SECTION HISTORY
PL 2013, c. 269, Pt. B, §2 (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 5: LIQUOR OPERATION REVENUE BONDS › 30-A §6052. Definitions

§6052. Definitions
As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 2013, c. 269, Pt. B, §2 (NEW).]
1.  Ancillary obligation.
"Ancillary obligation" means the obligation of the bond bank in connection with liquor operation revenue bonds issued under this subchapter under any of the following entered into by the bond bank:
A. A credit enhancement or liquidity agreement, including without limitation an obligation in the form of bond insurance, a surety bond, a letter of credit, a standby bond purchase agreement, a reimbursement agreement, liquidity facility or other similar arrangement;   [PL 2013, c. 269, Pt. B, §2 (NEW).]
B. A remarketing agreement, auction agent agreement, broker-dealer agreement or other agreement relating to the marketing of liquor operation revenue bonds, an interest rate swap or another type of swap or hedging contract; or   [PL 2013, c. 269, Pt. B, §2 (NEW).]
C. An investment agreement, forward purchase agreement or similarly structured investment contract.   [PL 2013, c. 269, Pt. B, §2 (NEW).]
[PL 2013, c. 269, Pt. B, §2 (NEW).]
2.  Cost of issuance.
"Cost of issuance" means an item of expense directly or indirectly payable or reimbursable by the bond bank and related to the authorization, sale or issuance of liquor operation revenue bonds, including, but not limited to, underwriting fees and fees and expenses of professional consultants and fiduciaries.
[PL 2013, c. 269, Pt. B, §2 (NEW).]
3.  Financing costs.
"Financing costs" means all costs of issuance, capitalized interest, capitalized operating expenses and debt service reserves, fees and costs of any ancillary obligation or other fees, expenses and costs related to issuing, securing and marketing liquor operation revenue bonds.
[PL 2013, c. 269, Pt. B, §2 (NEW).]
4.  Fund.
"Fund" means the Liquor Operation Revenue Fund established in section 6054.
[PL 2013, c. 269, Pt. B, §2 (NEW).]
5.  Liquor operation revenue bond.
"Liquor operation revenue bond" means a bond, note or other evidence of indebtedness issued by the bond bank pursuant to this subchapter.
[PL 2013, c. 269, Pt. B, §2 (NEW).]
SECTION HISTORY
PL 2013, c. 269, Pt. B, §2 (NEW).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 229: MUNICIPAL FINANCE BOARD › 30-A §6101. Membership

§6101. Membership
The Board of Emergency Municipal Finance, established in accordance with Title 5, section 12004-I, subsection 25-A, and referred to in this chapter as the "board," shall be composed of the 3 persons who hold the offices of the Commissioner of Finance, Treasurer of State and State Tax Assessor. The successor of any person to any of these offices immediately becomes a member of the board and the person who formerly held that office ceases to be such a member. The person holding the office of State Tax Assessor is the chair of the board. The members of the board shall be compensated according to the provisions of Title 5, chapter 379.   [PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. A, §51 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD); PL 1989, c. 878, Pt. A, §90 (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, §§A51,C8,C10 (AMD). PL 1989, c. 878, §A90 (AMD).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 229: MUNICIPAL FINANCE BOARD › 30-A §6102. Purpose

§6102. Purpose
The purpose of establishing the board is to enable municipalities that have fallen into financial difficulties to receive assistance from the State and to be reestablished on a sound financial basis and to assure the State of the collection of the taxes due from those municipalities to 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).
2023 Maine Revised Statutes › TITLE 30-A: MUNICIPALITIES AND COUNTIES › Part 2: MUNICIPALITIES › Subpart 9: FISCAL MATTERS › Chapter 229: MUNICIPAL FINANCE BOARD › 30-A §6103. General powers; construction

§6103. General powers; construction
1.  General powers.
All powers and duties necessary to carry out the purposes set forth in this chapter are conferred on the board.
[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.  Liberal construction.
This chapter shall be liberally construed to carry out the intent expressed in section 6102.
[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 229: MUNICIPAL FINANCE BOARD › 30-A §6104. Availability of state funds for public assistance programs

§6104. Availability of state funds for public assistance programs
1.  Application for funds.
Any municipality, which is financially unable to provide for its direct relief and work programs or its contributory share of public assistance programs of any nature, may apply to the Department of Health and Human Services for funds from the State for that purpose. The municipal officers shall apply in writing and shall send a copy of the application to the Board of Emergency Municipal Finance.
[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 2003, c. 689, Pt. B, §6 (REV).]
2.  Determination of eligibility.
When the application is received, the Department of Health and Human Services shall determine if the municipality or unorganized territory is unable to provide for its direct relief and work programs or its contributory share of public assistance programs of any nature.
[PL 2015, c. 44, §14 (AMD).]
3.  Provision of state funds.
Through the Department of Health and Human Services, the State may provide for direct relief and work programs or the necessary share for the municipality of its contributory share of public assistance programs of any nature in the municipality. No such funds may be expended until the Board of Emergency Municipal Finance takes over the municipality's affairs.
[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 2003, c. 689, Pt. B, §6 (REV).]
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 2003, c. 689, §B6 (REV). PL 2015, c. 44, §14 (AMD).