LD 2091
pg. 1
LD 2091 Title Page An Act to Provide for the 2002 and 2003 Allocations of the State Ceiling on Pri... Page 2 of 2
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LR 3392
Item 1

 
Emergency preamble. Whereas, Acts of the Legislature do not become
effective until 90 days after adjournment unless enacted as
emergencies; and

 
Whereas, the Maine Revised Statutes, Title 10, section 363 and
Private and Special Law 2001, chapter 14 make a partial
allocation of the state ceiling on private activity bonds to some
issuers for calendar year 2002, but leave a portion of the state
ceiling unallocated and do not provide sufficient allocations for
certain types of private activity bonds that may require an
allocation prior to the effective date of this Act if not enacted
on an emergency basis; and

 
Whereas, if these bond issues are delayed due to lack of
available state ceiling, the rates and terms under which these
bonds may be issued may be adversely affected, resulting in
increased costs to beneficiaries or even unavailability of
financing for certain projects; and

 
Whereas, in the judgment of the Legislature, these facts create
an emergency within the meaning of the Constitution of Maine and
require the following legislation as immediately necessary for
the preservation of the public peace, health and safety; now,
therefore,

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

 
Sec. 1. Allocation to Treasurer of State. No portion of the state ceiling
for calendar year 2002 is allocated to the Treasurer of State.
No portion of the state ceiling for calendar year 2003 is
allocated to the Treasurer of State.

 
Sec. 2. Allocation to Finance Authority of Maine. The $25,000,000 of the
state ceiling for calendar year 2002 previously allocated to the
Finance Authority of Maine remains allocated to the Finance
Authority of Maine to be used or reallocated in accordance with
the Maine Revised Statutes, Title 10, section 363, subsection 6
for calendar year 2002. Five million dollars of the state
ceiling previously unallocated is now allocated to the Finance
Authority of Maine to be used or reallocated in accordance with
Title 10, section 363, subsection 6 for calendar year 2002.
Thirty million dollars of the state ceiling for calendar year
2003 is allocated to the Finance Authority of Maine to be used or
reallocated in accordance with Title 10, section 363, subsection
6.

 
Sec. 3. Allocation to Maine Municipal Bond Bank. The $10,000,000 of the
state ceiling for calendar year 2002 previously allocated to the
Maine Municipal Bond Bank remains allocated to the Maine
Municipal Bond Bank to be used or


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