35-A §2924. Budget
§2924. Budget No later than June 1st 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. The budget shall be prepared on the basis of quarterly requirements so that it is possible to determine from the […]
35-A §2925. State services
§2925. State services 1. State may render services to bank. All officers, departments, boards, agencies, divisions and commissions of the State, including, without limitation, the Maine Municipal Bond Bank, may render any services to the bank which are within the area of their respective governmental functions as established by law and which are requested by […]
35-A §2926. Agreements with financial institutions
§2926. Agreements with financial institutions 1. Public utility bonds. The bank may enter into such agreements or contracts with any commercial banks, trust companies, banking or other financial institutions inside or outside the State as are necessary, desirable or convenient as determined by the bank, for rendering services to the bank in connection with: […]
35-A §2927. Form of public utility securities and investments
§2927. Form of public utility securities and investments All public utility 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 public utility bonds at […]
35-A §2928. Presumption of validity
§2928. 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 public utility is estopped from questioning their authorization, sale, issuance, execution or delivery by the bank. [PL 1987, c. 141, Pt. A, […]
35-A §2929. Other laws
§2929. Other laws To the extent that this chapter is inconsistent with or in conflict with any private or special law, this chapter shall be effective and such other private or special law is of no effect. [PL 1987, c. 141, Pt. A, §6 (NEW).] It is not intended that the general laws relating […]
35-A §2930. Liberal construction of chapter
§2930. Liberal construction of chapter This chapter shall be construed liberally to effectuate the legislative intent and the purposes of this chapter. [PL 1987, c. 141, Pt. A, §6 (NEW).] SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A §2919. Additional powers
§2919. 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. 141, Pt. A, §6 (NEW).] 1. Loans. In connection with any loan to a public utility, consider the need, desirability or […]
35-A §2904. Creation of bank and membership
§2904. Creation of bank and membership 1. Creation of bank. There is established a public body corporate and politic to be known as the “Maine Public Utility Financing Bank.” The bank is an instrumentality of the State exercising public and essential governmental functions and which has perpetual succession. The exercise by the bank of the […]
35-A §2920. Undertakings of depositories
§2920. Undertakings of depositories All national banking associations or state banks, trust companies, savings banks, investment companies and other persons carrying on a banking business may give the bank a good and sufficient undertaking with sureties that are approved by the bank to the effect that the national banking association or state bank or banking […]