| | | 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, unless this legislation is enacted as an emergency | | measure, the Maine Developmental Disabilities Council may be | | unable to meet its operating budget and may be unable to perform | | its duties; 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. 1. 34-B MRSA §17001, sub-§§7 to 9 are enacted to read: |
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| | | 7.__Officers.__The council shall select its own officers, | | which must be, at a minimum, a chair, executive director, | | treasurer and vice-chair. |
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| | | 8.__Borrowing authority.__The council may borrow according to | | this subsection. |
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| | | A.__The council may borrow funds in anticipation of receipt | | of its operating revenues and may issue notes and other | | evidences of temporary indebtedness for current operating | | expenses for a term not to exceed 13 months only if that | | borrowing does not exceed 25% of the annual budget of the | | council for the preceding fiscal year.__Indebtedness | | authorized under this chapter is incurred for a public | | purpose, and all income derived from that indebtedness is | | exempt from taxation by the State.__Notes and other | | evidences of temporary indebtedness issued by the council | | are legal obligations of the council payable solely from the | | council's revenues and other sources of funds.__Notes and | | other evidences of temporary indebtedness issued by the | | council under this subsection are not a liability, debt or a | | pledge of the credit of the State, or of any municipality or | | political subdivision of the State, but are payable solely | | from the revenues of the council.__Funds borrowed by the | | council are not includable in any debt limitation of the | | State or any municipality or political subdivision of the | | State. |
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| | | B.__The council may fix the date, maturities, denominations, | | interest rates, places of payment, form and other details of | | notes and other evidences of temporary indebtedness of the |
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