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c. 474, §1, is amended to read: |
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| B. Apply to or limit the right of an obligee to foreclose | or otherwise enforce a mortgage of the authority or to | pursue remedies for the enforcement of a pledge or lien | given by the authority on its rents, fees, grants or | revenues or any other sources pledged by the authority to | the payment of its bonds. |
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| | Sec. 9. 5 MRSA §13080-K, sub-§2, as enacted by PL 1993, c. 474, §1, is | amended to read: |
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| | 2. Payment of bonds, premiums and interest. The bonds, | premium, if any, and interest have been paid or a sufficient | amount for the payment of the bonds and interest to maturity or a | prior redemption date have been irrevocably set aside in trust | for the benefit of the bondholders in accordance with agreements | with the bondholders. |
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| | Sec. 10. 5 MRSA §13080-N, sub-§5, as enacted by PL 1993, c. 729, §10, | is amended to read: |
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| | 5. Appropriation. On or before December 1st, annually, the | authority shall certify to the Governor the amount, if any, | necessary to restore the amount in any capital reserve fund. In | trust agreements or other pertinent documents between the | authority and the Governor, it must be clearly stated that this | subsection applies to the capital reserve requirement. The | Governor shall pay from the Contingent Account to that fund as | much of the amount as is available in the Contingent Account and | shall transmit to the Legislature a certification and a statement | of the amount, if any, remaining to be paid and the amount | certified must be appropriated and paid to the authority during | the then current state fiscal year. |
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| | Sec. 11. 5 MRSA §13080-N, sub-§7 is enacted to read: |
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| | 7.__Other capital reserve funds.__This section, including | subsection 5, may not be construed to require that each capital | reserve fund established under this section have the benefit | described in subsection 5. |
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| | Emergency clause. In view of the emergency cited in the preamble, | this Act takes effect when approved. |
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