Sec. 6. 5 MRSA §13120-I, sub-§1, as amended by PL 2003, c. 281, §4, is further amended to read:

1. Authorization. The authority may provide by resolution for the issuance of bonds for the purpose of funding the Community Speculative Industrial Buildings Fund, or any successor to the fund, for the construction of proposed commercial facilities and improvement of existing or acquired commercial facilities and for the fulfillment of other undertakings that it may assume. The bonds of the authority do not constitute a debt of the State or of any agency or political subdivision of the State but are payable solely from the revenue of the authority, and neither the faith nor credit nor taxing power of the State or any political subdivision of the State is pledged to payment of the bonds. Notwithstanding any other provision of law, any bonds issued pursuant to this subchapter are fully negotiable. If any member of the board of trustees whose signature appears on the bond or coupons ceases to be a member of the board of trustees before the delivery of those bonds, that signature is valid and sufficient for all purposes as if that member of the board of trustees had remained a member of the board of trustees until delivery.

Sec. 7. 5 MRSA §13120-I, sub-§3, as enacted by PL 2001, c. 703, §6, is amended to read:

3. Money received. All money received from any bonds issued must be applied solely for loans to municipalities or local development corporations for community speculative industrial buildings, for the construction of proposed commercial facilities and improvement of existing or acquired commercial facilities and for the fulfillment of other undertakings that are within the power of the authority. There is created a lien upon the money until so applied in favor of the bondholders or any member of the board of trustees as may be provided in respect of the bonds.

Sec. 8. 5 MRSA §13120-J, sub-§1, as enacted by PL 2001, c. 703, §6, is amended to read:

1. Acquisition of interest. A member of the board of trustees or employee of the authority may not acquire or hold a direct or an indirect personal financial or personal interest in:

A. An authority activity;