Maine § 30-A §5116 Investment of funds; redemption of bonds

Maine Statutes

§ 30-A §5116 — Investment of funds; redemption of bonds

Maine § 30-A §5116

Title 30-AMUNICIPALITIES AND COUNTIES

Part 2MUNICIPALITIES

Ch. 203URBAN RENEWAL

This text of Maine § 30-A §5116 (Investment of funds; redemption of bonds) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 30-A, § 30-A §5116 (2026).

Text

The authority may:

1.Invest funds. Invest any funds held in reserves or sinking funds or any funds not required for immediate disbursement in property or securities in which saving banks may legally invest funds subject to their control; and

2.Redeem or purchase bonds. Redeem its bonds at the redemption price established in the bonds or may purchase its bonds at less than redemption price, all bonds so redeemed or purchased to be cancelled.

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The authority may:
1.
Invest funds.
Invest any funds held in reserves or sinking funds or any funds not required for immediate disbursement in property or securities in which saving banks may legally invest funds subject to their control; and
2.
Redeem or purchase bonds.
Redeem its bonds at the redemption price established in the bonds or may purchase its bonds at less than redemption price, all bonds so redeemed or purchased to be cancelled.