Maine LD 51: An Act To Eliminate the Bonding Authority of the Maine Governmental Facilities Authority

LD 51 (subjects: STATE FINANCES , BONDED DEBT )


Sponsors | Bill Text


Sponsors

Principal Sponsor: Rep. Heather Sirocki of Scarborough: (R – District 28) — e-mail

8 Cosponsors:

Bill Text

An Act To Eliminate the Bonding Authority of the Maine Governmental Facilities Authority

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 4 MRSA 1604, sub- 10, ?as enacted by PL 1987, c. 438, 1, is amended to read:

10. ?Provide for financing or refinancing. ? To provide financing for any project, projects or part of any project or to provide for refinancing of existing indebtedness, and, for the financing of the project, projects or part of any project and of other necessary and usual attendant facilities, to borrow money and to issue negotiable securities and to provide for the rights of the holders of those securities issued by the authority prior to October 1, 2015. Beginning October 1, 2015, the authority may not issue a bond or negotiable security;

summary

This bill removes the Maine Governmental Facilities Authority???s ability to issue bonds or negotiable securities beginning October 1, 2015.


This information about LD 51 was last updated on 2015-03-20.
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