Sec. 1. 30-A MRSA §5954-A, sub-§1, as enacted by PL 1999, c. 231, §2, is repealed and the following enacted in its place:

1.__Authority.__In addition to its other enumerated powers but subject to the limitations imposed under subsection 2, the bank may purchase, lease or otherwise acquire, finance, sell or transfer for, to or on behalf of itself and any governmental unit or nonprofit corporation organized under the United States Internal Revenue Code, Section 501, or in partnership with a governmental unit or nonprofit group organized under Section 501, commodities necessary for the daily operation of the facilities of any such entities, including, but not limited to, electricity, petroleum products, fuel oil and natural gas.

SUMMARY

This bill replicates in the Maine Municipal Bond Bank enabling statutes language from the Maine Health and Higher Educational Facilities Authority Act and will allow local governments and nonprofit groups to obtain the savings associated with the bulk purchase of the complete range of operational commodities.