Maine § 20-A §15909 Financing

Maine Statutes

§ 20-A §15909 — Financing

Maine·Title 20-A EDUCATION·Part 7 SCHOOL FINANCE·Ch. 609 SCHOOL CONSTRUCTION

1.Rate of construction aid.

2.Bonds. A school administrative unit shall sell bonds in its name for the total cost of a school construction project minus the amounts listed in paragraph A. Bond sales must be consistent with rules adopted or amended by the state board.

3.Deductions; cost of project. Proceeds from insured losses, money from federal sources and other noneducational funds must be deducted from the total cost of a school construction project to determine the amount on which the state's share must be calculated. Proceeds from gifts or moneys from federal revenue sharing sources must be treated as local appropriations.

4.Construction projects approved in fiscal year 1984-85.

5.Records. All records for a school construction project must be kept for 7 years after the final comp

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1.
Rate of construction aid.
2.
Bonds.
A school administrative unit shall sell bonds in its name for the total cost of a school construction project minus the amounts listed in paragraph A. Bond sales must be consistent with rules adopted or amended by the state board.
3.
Deductions; cost of project.
Proceeds from insured losses, money from federal sources and other noneducational funds must be deducted from the total cost of a school construction project to determine the amount on which the state's share must be calculated. Proceeds from gifts or moneys from federal revenue sharing sources must be treated as local appropriations.
4.
Construction projects approved in fiscal year 1984-85.
5.
Records.
All records for a school construction project must be kept for 7 years after the final compliance review.
6.
Compliance review.
All records for state-funded school construction projects must be reviewed for compliance by department staff or certified public accountants under contract with the department.

Maine § 20-A §15909 (Financing) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

PL 1981, c. 693, §§5,8 (NEW). PL 1983, c. 426, §§5,6 (AMD). PL 1985, c. 248, §§8-10 (AMD). PL 1985, c. 506, §§B17,18 (AMD). PL 1987, c. 402, §A133 (AMD). PL 1987, c. 803, §§3,5 (AMD). PL 2011, c. 678, Pt. A, §8 (AMD). PL 2011, c. 678, Pt. C, §§4-7 (AMD). PL 2013, c. 167, Pt. B, §6 (AMD).