§ 30-A §5114 — Exemption from taxes and execution

Maine § 30-A §5114

• Jurisdiction: Maine
• Title 30-A: MUNICIPALITIES AND COUNTIES
• Part 2: MUNICIPALITIES
• Ch. 203: URBAN RENEWAL

Text

1.
Property exempt from execution.
All property, including funds of the authority, is exempt from levy and sale by virtue of an execution, and no execution or other judicial process may issue against the authority's property nor may judgment against the authority be a charge or lien upon its property.
2.
Property exempt from taxation.
The property of the authority is declared to be public property used for essential public and governmental purposes and that property and the authority are exempt from all taxes of the municipality, the State or any political subdivision of the State, provided that, with respect to any property in a renewal project, the tax exemption provided in this section shall terminate when the authority sells, leases or otherwise disposes of the property to a redeveloper for redevelopment.
3.
Construction; limitation of application.
Nothing in this section may be construed to:

Legislative History

PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 104, §§C8,10 (AMD).