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| | | An Act To Authorize Water and Wastewater Districts To |
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| | | 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 transaction with respect to some | | or all of its real or personal property, other than land, and may | | take all other action necessary or desirable, including, but not | | limited to, the granting of mortgages and liens, to effectuate | | the transaction.__For purposes of this subsection, "lease" |
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| | | includes a lease of any length, including leases that may be | | defined as sales for income tax purposes. |
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| | | Sec. 2. 38 MRSA §1068 is enacted to read: |
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