Maine § 30-A §4863 Maine Energy, Housing and Economic Recovery Fund

Maine Statutes

§ 30-A §4863 — Maine Energy, Housing and Economic Recovery Fund

Maine·Title 30-A MUNICIPALITIES AND COUNTIES·Part 2 MUNICIPALITIES·Ch. 201 HOUSING AUTHORITY

The Maine Energy, Housing and Economic Recovery Fund is established under the jurisdiction and control of the authority. The fund is nonlapsing and may be invested in the same manner as permitted for investment of other state funds.

1.Use of fund. Money in the fund may be applied by the authority:

2.Sources of funds. The fund consists of:

3.Fund as security. Money in the fund may, in whole or in part, be pledged or transferred and deposited as security for and applied in payment of principal of, interest on or redemption premiums on bonds issued under section 4864 for the purposes of this subchapter.

4.Division of fund. The authority may divide the fund into any separate accounts that it finds necessary to accomplish the purposes of this subchapter.

5.Reporting. Not later than March 1

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The Maine Energy, Housing and Economic Recovery Fund is established under the jurisdiction and control of the authority. The fund is nonlapsing and may be invested in the same manner as permitted for investment of other state funds.
1.
Use of fund.
Money in the fund may be applied by the authority:
2.
Sources of funds.
The fund consists of:
3.
Fund as security.
Money in the fund may, in whole or in part, be pledged or transferred and deposited as security for and applied in payment of principal of, interest on or redemption premiums on bonds issued under section 4864 for the purposes of this subchapter.
4.
Division of fund.
The authority may divide the fund into any separate accounts that it finds necessary to accomplish the purposes of this subchapter.
5.
Reporting.
Not later than March 1, 2011 and March 1st of each year thereafter, the director of the authority shall report to the joint standing committee of the Legislature having jurisdiction over affordable housing matters on the status of the fund as long as there has been new activity since the previous report. The report must include, but is not limited to, the amount of revenue bonds issued under this subchapter, the type, location and cost of projects receiving bond proceeds, the number of housing units created by each project, the number of direct construction jobs created or maintained by each project, the amount of direct construction wages paid in creating or maintaining those jobs and the total amount of building materials purchased in the development of each project.

Maine § 30-A §4863 (Maine Energy, Housing and Economic Recovery Fund) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.