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25,400 statutes · page 16 of 1270
United States — Maine legislation
20 statutes shown from 25,400 source-backed records
The authority may assist municipalities with negotiations, contract drafting, financing, and the sale of securities under this subchapter.
The authority may approve or disapprove project applications and issue certificates of approval, but only after required notice is published and the listed project criteria are satisfied.
1. Notice of intent to issue bonds; actions to contest validity. The municipal officers of any municipality are authorized to provide by resolution, at one time or from time to time, for the issuance of revenue obligation securities of the
Municipal officers may secure revenue obligation securities with trust agreements, mortgages, or similar documents, and those documents may set lien, default, and holder-rights terms.
Before issuing revenue obligation securities for a project, municipal officers must determine there will always be enough revenues and funds to pay principal, interest, and, unless covered by lease or contract, maintenance and repair costs.
Holders of the specified revenue obligation securities and the trustee may use legal action to protect and enforce rights, and to compel performance of required duties, unless restricted by the authorizing resolution, trust agreement, or financial document.
Municipal officers may authorize revenue refunding securities by resolution, and the authority may approve or disapprove issuance in specified circumstances.
A resolution adopted under this chapter does not have to be published before or after final passage.
A lessee’s interest in a project is taxable like fee interests in real estate and personal property, subject to Title 36, sections 655 and 656.
The securities, their transfer, and income from them are exempt from taxation within the State at all times.
Municipal revenue obligation securities, and related loans or credit extensions issued under this subchapter, are legal investments for specified public, financial, and fiduciary actors.
The Municipal Securities Approval Program is the successor to the former program administered by the Maine Guarantee Authority.
The Legislature designates the entire State as a recovery zone, and the authority must receive and reallocate county bond allocation amounts under federal-law limits.
Thirty percent of the bond volume limitation allocation for the State and counties is reallocated to the authority, subject to federal law.
The Governor may, if federal law allows, set by executive order a procedure to reallocate certain national bond limitation amounts within the State.
A municipality may agree that bond interest is taxable to bondholders, and bonds issued under this section are not subject to certain other legal limits or procedures.
This section defines terms used in the subchapter.
1. Program established. There is established the Waste Oil Furnace Loan Program to be administered by the authority through approved lenders. The program subsidizes interest costs of loans made to eligible entities purchasing and properly
This section creates a grant program and fund to help eligible immigrants pay certain work-readiness costs.
This section defines terms used in the Government Shutdown Loan Guarantee Program.
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