§5951. Creation of bank and membership 1. Bank established. There is established a public body corporate and politic to be known as the “Maine Municipal Bond Bank” in accordance with Title 5, chapter 379. The bank is constituted as an instrumentality of the State exercising public and essential governmental functions. The bank’s exercise of the […]
§5952. Conflict of interest No commissioner of the bank may participate in any decision on any contract entered into by the bank, if the commissioner has any pecuniary interest, direct or indirect in any firm, partnership, corporation or association which is or may be a party to the contract. [PL 1987, c. 737, Pt. […]
§5953-A. Loans from revolving loan fund 1. Loan application. A municipality may apply for a loan from the revolving loan fund, the proceeds of which must be used for the following: A. To acquire, design, plan, construct, enlarge, repair or improve a publicly owned sewage or water system or sewage or water treatment plant […]
§5953-B. Loans from safe drinking water revolving loan fund 1. Loan application. In addition to the other forms of financial assistance available under section 6006‑B, a public water system that is a community water system or a nonprofit water system that is not a community water system may apply for a loan from the safe […]
§5953-C. Loans for energy efficiency improvements in municipal and school buildings This section establishes a program to promote energy efficiency and indoor air quality in municipal and school buildings. [PL 1993, c. 605, §1 (NEW).] 1. Efficiency Partners Program. The bank shall establish the Efficiency Partners Program, referred to in this section as “the […]
§5953-D. Assistance from Municipal Investment Trust Fund 1. Application for public service infrastructure grants and loans. In addition to the other forms of financial assistance available under section 6006‑D, an eligible municipality or group of municipalities may apply for a public service infrastructure grant or loan from the Municipal Investment Trust Fund, in this section […]
§5953-E. Maine School Facilities Finance Program There is established the Maine School Facilities Finance Program to promote efficient capital financing activities for the construction, renovation and maintenance of school facilities and the lease-purchase of school facilities. [PL 1999, c. 81, §14 (AMD).] 1. Loan application. In addition to the other forms of financial assistance […]
§5953-F. Recovery zone economic development bonds; qualified energy conservation bonds To the extent permitted by federal law, the county commissioners of any county may authorize the bank to issue recovery zone economic development bonds or qualified energy conservation bonds on behalf of that county. [PL 2009, c. 517, §17 (NEW).] 1. Recovery zone economic […]
§5953-G. Additional securities; career and technical education centers and regions 1. Additional securities. The bond bank may issue additional securities in an aggregate amount not to exceed $20,000,000 for equipment purchases to career and technical education centers and career and technical education regions in accordance with this section, and the additional securities must be used […]
§5953. Lending and borrowing powers generally 1. Powers. For the purposes authorized by this chapter, the bank may: A. Lend money to governmental units through the bank’s purchase of municipal securities of governmental units in fully marketable form; [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 […]
§5954-A. Aggregation service 1. Authority. In addition to its other enumerated powers, but subject to the limitations imposed under subsection 2, the bank, on behalf of or in partnership with one or more governmental units or nonprofit corporations organized under the Internal Revenue Code, Section 501, may aggregate governmental units and nonprofit corporations to purchase […]
§5954. Corporate powers 1. Powers. The bank is constituted a public body corporate and politic and an instrumentality of the State and shall have perpetual succession. For carrying out the purposes of this chapter, the bank may: A. Sue and be sued; [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. […]
§5955. Additional powers In order to carry out the purposes and provisions of this chapter, the bank, in addition to any powers granted to it elsewhere in this chapter, may: [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. […]
§5956. State services 1. State assistance authorized. All state officers, departments, boards, agencies, divisions and commissions may provide any service to the bank that is: A. Requested by the bank; and [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL […]
§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 […]
§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 […]
§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; […]
