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D. The sum of $150,000,000 less the aggregate outstanding | | balance of mortgage loans secured by capital reserve funds | | pursuant to section 1032 for all other revenue obligation | securities issued pursuant to this subchapter; and |
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| | | E. The sum of $120,000,000 consisting of not more than | | $100,000,000 for loans and up to $20,000,000 for use of bond | | proceeds to fund capital reserve funds for revenue | | obligation securities issued pursuant to this subchapter | | relating to loans for paper industry job retention | projects. |
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| | | F.__The sum of $100,000,000 consisting of not more than | | $85,000,000 for loans and up to $15,000,000 for use of bond | | proceeds to fund capital reserve funds for revenue | | obligation securities issued pursuant to this subchapter | | relating to loans for transmission facilities projects as | | defined in section 963-A, subsection 49-H. |
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| | | The amount of revenue obligation securities issued to refund | | securities previously issued may not be taken into account in | | determining the principal amount of securities outstanding, as | | long as proceeds of the refunding securities are applied as | | promptly as possible to the refunding of the previously issued | | securities. In computing the total amount of revenue obligation | | securities of the authority that may at any time be outstanding | | for any purpose, the amounts of the outstanding revenue | | obligation securities that have been issued as capital | | appreciation bonds or as similar instruments are valued as of any | | date of calculation at their then current accreted value rather | | than their face value. |
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| | | Sec. 6. 10 MRSA §9202, sub-§1, as enacted by PL 1999, c. 513, §6, is | | amended to read: |
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| | | 1. Establishment and purpose. The Northern Maine | | Transmission Corporation is established as a body corporate and | | politic and public instrumentality of the State. The corporation | | is a special purpose corporation formed and managed as a | | subsidiary of the authority. The exercise by the corporation of | the powers conferred by this chapter shall be | | performance of essential public functions. The purpose of the | corporation is to examine the need for and viability of and to | finance, permit, construct, own and operate electric transmission | lines necessary to connect electric utilities in the northern | region of the State with the transmission grid of the United | States in a manner adequate, in the opinion of the authority, to | allow customers serviced by those electric utilities to receive | the benefits of service similar to all other electric customers | in this State. |
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