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 […]
30-A §6023. Remedies of holders of bonds and notes
§6023. Remedies of holders of bonds and notes 1. Trustee. If the bank defaults in the payment of principal of or interest on any issue of bonds after the principal and interest become due, whether at maturity or upon call for redemption, and that default continues for a period of 30 days, or if the […]
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); […]
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 […]
30-A §6003. Bonds and notes of the bank
§6003. Bonds and notes of the bank 1. Bonds authorized. The bank may issue its bonds from time to time in any principal amounts that it considers necessary to provide funds for any of the purposes authorized by this chapter, including: A. The making of loans; [PL 1987, c. 737, Pt. A, §2 […]
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 […]
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 […]
30-A §6006. Reserve fund
§6006. Reserve fund 1. Reserve fund. The bank shall establish and maintain a reserve fund called the “Maine Municipal Bond Bank Reserve Fund” in which there shall be deposited all money appropriated by the State for the purpose of that fund, all proceeds of bonds required to be deposited in the fund by terms of […]
30-A §6006-A. Revolving loan fund
§6006-A. Revolving loan fund 1. Establishment; administration. A revolving loan fund is established as provided in this section. A. There is established in the custody of the bank a special fund, to be known as the revolving loan fund, that must be used for the following purposes: (1) To provide loans to municipalities […]
30-A §6006-B. Safe drinking water revolving loan fund
§6006-B. Safe drinking water revolving loan fund 1. Establishment; administration. A safe drinking water revolving loan fund is established as provided in this section. A. There is established in the custody of the bank a special fund to be known as the safe drinking water revolving loan fund to provide financial assistance under subsection […]