§9201. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1999, c. 513, §6 (NEW).] 1. Corporation. “Corporation” means the Northern Maine Transmission Corporation established in section 9202, subsection 1. [PL 1999, c. 513, §6 (NEW).] 2. Fund. “Fund” means the Northern Maine […]
§9202. Northern Maine Transmission Corporation established 1. Establishment and purpose. The Northern Maine Transmission Corporation is established as a body corporate and politic and public instrumentality of the State. The corporation is a special purpose corporation formed and managed as a subsidiary of the authority. The exercise by the corporation of the powers conferred by […]
§9203. Powers The corporation has all the powers necessary or convenient to carry out this chapter including, without limitation, those general powers provided to a nonprofit corporation by the Maine Nonprofit Corporation Act, Title 13‑B and including, but not limited to, the following powers. [PL 1999, c. 513, §6 (NEW).] 1. Receipt of money […]
§9204. Fund established 1. Establishment of fund. There is established the Northern Maine Transmission Corporation Fund, which must be used to provide funding for activities of the corporation to further its purpose under this chapter. The fund must be deposited with and maintained and administered by the authority and must contain appropriations provided for that […]
§9205. Tax exemption 1. Bonds or notes. All bonds, notes or other evidences of indebtedness issued under this chapter are issued by a political subdivision or a body corporate and politic of the State and for an essential public and governmental purpose. Those bonds, notes or other evidences of indebtedness, the interest on them and […]
