| | | Emergency preamble. Whereas, Acts of the Legislature do not become | | effective until 90 days after adjournment unless enacted as | | emergencies; and |
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| | | Whereas, the 90-day period will not terminate until after the | | beginning of the next fiscal year; and |
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| | | Whereas, certain provisions of this legislation must be in | | effect prior to July 1, 2001; and |
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| | | 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, |
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| | | Be it enacted by the People of the State of Maine as follows: |
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| | | Sec. A-1. 5 MRSA §150, 2nd ¶, as amended by PL 1995, c. 665, Pt. P, | | §1 and affected by PL 1997, c. 643, Pt. E, §5, is further amended | | to read: |
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| | | The Treasurer of State, with the approval of the Governor, may | | negotiate a temporary loan or loans in anticipation of taxes | | levied for that fiscal year, but not exceeding a total of that | | amount of taxes estimated by the Treasurer of State to be | | collected in the fiscal year in which the temporary loan or | | loans, or renewal of the temporary loan or loans, is made, as | | long as the temporary loans or renewals of the temporary loans do | | not exceed any limitation set forth in the Constitution of Maine, | | Article IX, Section 14. Any such loans may be renewed from time | | to time as the Treasurer of State, with the approval of the | | Governor, determines, except that each loan or renewal of the | | loan must be retired not later than the close of the fiscal year | | in which the loan was originally made and for which were levied | | the taxes in anticipation of the collection of which the loan was | | originally made; and that each loan or renewal of the loan must | | comply with the provisions of this section and the Constitution | | of Maine, Article IX, Section 14. The Treasurer of State shall | | pay the loan or loans in anticipation of taxes during the year | | and there is appropriated for any year in which the Treasurer of | | State and the Governor determine it necessary to borrow in | anticipation of taxes the sum of $30,000,000; except that for | fiscal year 1991-92, the sum may not exceed $150,000,000; for | fiscal year 1992-93, the sum may not exceed $170,000,000; for | fiscal year 1993-94, the sum may not exceed $170,000,000; and for | fiscal year 1994-95, the sum may not exceed $175,000,000; and for |
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