LD 1482
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LD 1482 Title Page P & S Law Chapter 5 Page 2 of 3
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LR 2138
Item 1

 
CHAPTER 5

 
S.P. 508 - L.D. 1482

 
An Act To Provide for the 2005 and 2006 Allocations of the

 
State Ceiling on Private Activity Bonds

 
Emergency preamble. Whereas, acts of the Legislature do not become
effective until 90 days after adjournment unless enacted as
emergencies; and

 
Whereas, the Maine Revised Statutes, Title 10, section 363 and
Private and Special Law 2003, chapter 38 make a partial
allocation of the state ceiling on private activity bonds to some
issuers for calendar year 2005, but leave a portion of the state
ceiling unallocated and do not provide sufficient allocations for
certain types of private activity bonds that may require an
allocation prior to the effective date of this Act if not enacted
on an emergency basis; and

 
Whereas, if these bond issues must be delayed due to lack of
available state ceiling, the rates and terms under which these
bonds may be issued may be adversely affected, resulting in
increased costs to beneficiaries or even unavailability of
financing for certain projects; and

 
Whereas, in the judgment of the Legislature, these facts create
an emergency within the meaning of the Constitution of Maine and
require the following legislation as immediately necessary for
the preservation of the public peace, health and safety; now,
therefore,


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