| | | Be it enacted by the People of the State of Maine as follows: |
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| | | Sec. 1. 35-A MRSA §6109-A is enacted to read: |
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| | | §6109-A.__Lease of property by consumer-owned water utility |
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| | | 1.__Definitions.__As used in this section, unless the | | context otherwise indicates, the following terms have the | | following meanings. |
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| | | A.__"Charter" has the same meaning as set forth in section | | 6402, subsection 1. |
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| | | B.__"Consumer-owned water utility" has the same meaning as | | set forth in section 6101, subsection 1-A. |
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| | | 2.__Agreements authorized.__Notwithstanding any provision to | | the contrary in its charter, a consumer-owned water utility | | may enter into a lease and leaseback or a sale and leaseback | | transaction with respect to some or all of its real or | | personal property and may take all other action necessary or | | desirable, including, but not limited to, the granting of | | mortgages and liens, to effectuate the transaction. |
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| | | 3.__Property of consumer-owned water utility.__For property | | tax purposes, including the purposes under Title 36, section | | 651, property and any interest in the property, including the | | lessor's interest, if any, in property leased back to the | | consumer-owned water utility that is subject to a lease and | | leaseback or a sale and leaseback transaction under this | | section is property of the consumer-owned water utility. |
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| | | Sec. 2. 38 MRSA §1068 is enacted to read: |
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| | | §1068.__Lease of property by sanitary district |
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| | | Nothing in this chapter is intended to limit the authority | | of a sanitary district to enter into a lease and leaseback or | | a sale and leaseback transaction with respect to some or all | | of its real or personal property and to take all other action | | necessary or desirable, including, but not limited to, the | | granting of mortgages and liens, to effectuate the | | transaction.__For property tax purposes, including the | | purposes under Title 36, section 651, property and any | | interest in the property, including the lessor's interest, if | | any, in property leased back to the consumer-owned water | | utility that is subject to a lease and leaseback or a sale and | | leaseback transaction under this section is property of the | | consumer-owned water utility. |
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