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 […]
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 […]
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 […]
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 […]
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, […]
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 […]
30-A §6007. General fund
§6007. General fund 1. General fund established; money deposited. The bank shall establish and maintain a fund called the “general fund” which shall consist of and in which there shall be deposited: A. Fees received or charges made by the bank for the use of its services or facilities; [PL 1987, c. 737, […]
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; […]
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. […]
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); […]