Terms Used In Maine Revised Statutes > Title 10 > Part 1 > Chapter 9 - Allocation of State Ceiling On Tax-Exempt Bonds

• Bond: means a revenue obligation security, bond, note, debenture, certificate or other evidence of indebtedness of the State or any political subdivision of the State. See Maine Revised Statutes Title 10 Sec. 361
• Carryforward: means that portion of the state ceiling for any calendar year which is unallocated to specific bond issues during that calendar year and which is available to be carried forward to be used in later years under the United States Code, Title 26. See Maine Revised Statutes Title 10 Sec. 361
• Department: means the Department of Agriculture, Conservation and Forestry. See Maine Revised Statutes Title 8 Sec. 275-A
• Federal formula: means the formula or formulas for allocation of the state ceiling now or hereafter established under the United States Code, Title 26. See Maine Revised Statutes Title 10 Sec. 361
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Licensee: means a person licensed under section 271 or section 275?D to conduct pari-mutuel wagering on horse racing in this State. See Maine Revised Statutes Title 8 Sec. 275-A
• Municipal officers: means the mayor and municipal officers or councilors of a city, the members of the select board or councilors of a town and the assessors of a plantation. See Maine Revised Statutes Title 1 Sec. 72
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Pupil: means elementary or secondary school student. See Maine Revised Statutes Title 20-A Sec. 15001
• School administrative district: means a state-approved unit of school administration, composed of one or more municipalities which must provide public education to all public school students in the district. See Maine Revised Statutes Title 20-A Sec. 1
• Solid waste energy project: means a project designed to convert solid waste to electricity or steam. See Maine Revised Statutes Title 10 Sec. 361
• State ceiling: means the annual dollar volume cap on the issuance of tax-exempt bonds now or hereafter imposed on the State and its agencies and governmental subdivisions by the United States Code, Title 26. See Maine Revised Statutes Title 10 Sec. 361
• State valuation: means the value certified to the Secretary of State as provided in Title 36, section 305, subsection 1. See Maine Revised Statutes Title 20-A Sec. 1
• Tax-exempt bond: means a bond the interest on which is not included in the gross income of the owners for federal income tax purposes pursuant to the United States Code, title 26, § 103. See Maine Revised Statutes Title 10 Sec. 361