| | |
bonds, the expenses of redeeming the bonds being refunded and such | | reserves for debt service or other capital or current expenses from | | the proceeds of such refunding bonds as may be required by a trust | | agreement or resolution securing bonds. The issuance of refunding | | bonds, the maturities and other details of the refunding bonds, the | | security for refunding the bonds, the rights of the holders of the | | refunding bonds and the rights, duties and obligations of the | | district in respect of the same are governed by the applicable | | provisions of this section relating to the issuance of bonds other | | than refunding bonds. |
|
| | | 8. All bonds, notes or other evidences of indebtedness issued | | under this Act, their transfer and the income from the bonds, | | notes or other evidences of indebtedness, including any profit | | made on the sale of bonds, notes or other evidences of | | indebtedness, must at all times be free from taxation within the | | State. |
|
| | | Sec. 16. Certain bond issues; special meeting; vote. If the trustees vote to | | authorize bonds or notes for any of the corporate purposes of the | | sewer district, excluding notes payable within one year, notes in | | anticipation of bonds authorized pursuant to this Act, notes in | | anticipation of the revenues to be collected or received in any | | year and notes in anticipation of the receipt of approved federal | | or state grants, the authorized amount of which singly or in | | aggregate included in any one financing is $150,000 or more, the | | trustees must call a special district meeting for the purpose of | | permitting the collection of testimony from the public concerning | | the purpose and the amount of debt so authorized. Notice of the | | special district meeting, stating the approximate amount of the | | debt and the purpose for which it is being issued, must be | | published not less than 7 full days prior to the date of the | | meeting in a newspaper having general circulation in the district | | and must be mailed to each ratepayer in the district not later | | than the date of the publication. A debt may not be incurred | | under the vote of the trustees until the expiration of 7 full | | days following the date of the special district meeting. |
|
| | | Except for debt to fund that part of any project that has been | | approved for grant financing by the State Government or Federal | | Government to meet the requirements of the United States Clean | | Water Act and the Maine Revised Statutes, Title 38, chapter 12, | | including any related facilities not eligible for that financing | | but essential to the operation of the approved project as an | | integral system, for debts in excess of the amount specified in | | this section, the following petition and referendum procedure | | applies. If, on or before the 7th day following the date of the | | special district meeting, a petition signed by at |
|
|
