Maine § 30-A §6006-A Revolving loan fund

Maine Statutes

§ 30-A §6006-A — Revolving loan fund

Maine·Title 30-A MUNICIPALITIES AND COUNTIES·Part 2 MUNICIPALITIES·Ch. 225 MAINE MUNICIPAL BOND BANK

1.Establishment; administration. A revolving loan fund is established as provided in this section.

2.Uses. The revolving loan fund may be used for one or more of the following purposes:

3.Priorities for financial assistance. Periodically, and at least annually, the Department of Environmental Protection shall prepare and certify to the bank a project priority list of those municipalities whose publicly owned projects are eligible for financing or assistance under this section. The factors to be considered in developing the priority list shall include, but are not limited to:

4.Eligibility for financial assistance. No financial assistance for a project may be granted under this section until the Department of Environmental Protection certifies to the bank that the project is eligible fo

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1.
Establishment; administration.
A revolving loan fund is established as provided in this section.
2.
Uses.
The revolving loan fund may be used for one or more of the following purposes:
3.
Priorities for financial assistance.
Periodically, and at least annually, the Department of Environmental Protection shall prepare and certify to the bank a project priority list of those municipalities whose publicly owned projects are eligible for financing or assistance under this section. The factors to be considered in developing the priority list shall include, but are not limited to:
4.
Eligibility for financial assistance.
No financial assistance for a project may be granted under this section until the Department of Environmental Protection certifies to the bank that the project is eligible for immediate financing under this section and is on the priority list prepared under subsection 3.
5.
Establishment of accounts.
The bank may establish accounts and subaccounts within the revolving fund as it determines desirable to effectuate the purposes of this section, including, but not limited to, accounts to segregate a portion or portions of the revolving loan fund as security for bonds issued by the bank for deposit in the revolving loan fund and to be invested for the benefit of specified projects receiving financial assistance from the revolving loan fund.

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