Maine Statutes
§ 5 §13080-K — Termination of the authority
The authority is not dissolved until:
1.Legislature provides for termination.
It is terminated by the Legislature; and
2.Payment of bonds, premiums and interest.
The bonds, premium, if any, and interest have been paid or a sufficient amount for the payment of the bonds and interest to maturity or a prior redemption date have been irrevocably set aside in trust for the benefit of the bondholders in accordance with agreements with the bondholders.
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Legislative History
PL 1993, c. 474, §1 (NEW). PL 2003, c. 598, §9 (AMD).
Nearby Sections
15
§ 5 §13080-A
Definitions§ 5 §13080-C
Use of operating revenues§ 5 §13080-D
Property of authority§ 5 §13080-E
Special utility districts§ 5 §13080-F
Other municipal powers§ 5 §13080-G
Bonds§ 5 §13080-I
Exemption from execution§ 5 §13080-J
Designation as port of entry, international airport, foreign trade zone and free port area§ 5 §13080-K
Termination of the authority§ 5 §13080-L
Annual report§ 5 §13080-M
Relationship to other laws§ 5 §13080-N
Capital reserve funds; obligation of State