Maine Const. art. IX, § 14-A

Maine Constitution

Article IX, § 14-A — Authority to insure industrial, manufacturing, fishing, and agricultural mortgage loans

Maine Const. art. IX, § 14-A (Authority to insure industrial, manufacturing, fishing, and agricultural mortgage loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

JurisdictionMaine DocumentConstitution

ArticleIX

Section§ 14-A

CitationMaine Const. art. IX, § 14-A

Bluebook

Me. Const. art. IX, § 14-A.

Full Text

For the purposes of fostering, encouraging and assisting the physical location, settlement and resettlement of industrial, manufacturing, fishing, agricultural and recreational enterprises within the State, the Legislature by proper enactment may insure the payment of mortgage loans on real estate and personal property within the State of such industrial, manufacturing, fishing, agricultural and recreational enterprises not exceeding in the aggregate $90,000,000 in amount at any one time and may also appropriate moneys and authorize the issuance of bonds on behalf of the State at such times and in such amounts as it may determine to make payments insured as aforesaid. For the purposes of this section, a documented fishing vessel or a vessel registered under state law shall be construed as real estate.

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For the purposes of fostering, encouraging and assisting the physical location, settlement and resettlement of industrial, manufacturing, fishing, agricultural and recreational enterprises within the State, the Legislature by proper enactment may insure the payment of mortgage loans on real estate and personal property within the State of such industrial, manufacturing, fishing, agricultural and recreational enterprises not exceeding in the aggregate $90,000,000 in amount at any one time and may also appropriate moneys and authorize the issuance of bonds on behalf of the State at such times and in such amounts as it may determine to make payments insured as aforesaid. For the purposes of this section, a documented fishing vessel or a vessel registered under state law shall be construed as real estate.