§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); […]
§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 […]
§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 […]
§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 […]
§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 […]
§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 […]
§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 […]
§6006-C. Municipal lease finance program 1. Establishment; administration. A municipal lease finance program under the jurisdiction and direction of the bank is established to provide or assist municipalities and governmental entities in the financing of leases by which a municipality may acquire or obtain the right to use personal or real property. The municipal lease […]
§6006-D. Municipal Investment Trust Fund 1. Establishment; administration. The Municipal Investment Trust Fund, referred to in this section as the “fund,” is established in the custody of the bank as a special fund as provided in this section. A. The purpose of the fund is to provide financial assistance under subsection 2 for the […]
§6006-E. Maine school facilities finance lease-purchase program In addition to and in furtherance of any other assistance available to a school administrative unit in this chapter, the bank, in cooperation with the Department of Education, shall establish a lease-purchase program for buildings to be used by all school administrative units whose school facility lease-purchase payments […]
§6006-F. School Revolving Renovation Fund 1. Fund established. The School Revolving Renovation Fund, referred to in this section as the “fund,” is established in the custody of the bank. [PL 1997, c. 787, §13 (NEW).] 2. Administration. The bank shall administer and invest the fund. The fund must be established and held separate and […]
§6006-G. TransCap Trust Fund 1. Establishment; purposes. The TransCap Trust Fund, referred to in this section as “the fund,” is established in the custody of the bank to provide transportation capital investment for the Department of Transportation and municipalities in accordance with this section. The purpose of the fund is to provide financial assistance for […]
§6006-H. State Water and Wastewater Infrastructure Fund 1. Establishment; purposes. The State Water and Wastewater Infrastructure Fund, referred to in this section as “the fund,” is established as provided in this section. A. The fund is established in the custody of the bank as a special fund to provide financial assistance for capital investment […]
§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 […]
§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, […]
§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. […]
§6009. Application of money Money or investments in any fund or account of the bank established or held for any bonds, notes, indebtedness or liability to be paid, funded or refunded by the issuance of bonds or notes shall, unless the resolution authorizing the bonds or notes provides otherwise, be applied to the payment or […]
§6010. Purchase of bonds and notes of bank The bank may purchase bonds or notes of the bank out of any funds or money of the bank available for that purpose. The bank may hold, cancel or resell these bonds or notes subject to and in accordance with agreements with holders of its bonds or […]
§6011. Bonds as legal investments and security Notwithstanding any restrictions contained in any other law, the State and all public officers, governmental units and agencies of the State, all national banking associations, state banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on […]
§6012. Tax exemptions All property of the bank and all bonds and notes issued under this chapter are deemed to constitute essential public and governmental purposes and the property and the bonds and notes so issued, their transfer and the income from those bonds and notes, including any profits made on the sale of the […]
