Maine Revised Statutes Title 20-A Sec. 10965 – Validity of evidences of indebtedness
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Terms Used In Maine Revised Statutes Title 20-A Sec. 10965
- Dependent: A person dependent for support upon another.
- Evidences of indebtedness: means any notes, long-term or short-term, or other evidences of indebtedness issued pursuant to this chapter. See Maine Revised Statutes Title 20-A Sec. 10951
- Financing transaction: means the borrowing of money by the university on behalf of the State pursuant to this chapter. See Maine Revised Statutes Title 20-A Sec. 10951
- 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.
- Project: includes all real and personal property, lands, improvements, driveways, roads, approaches, pedestrian access roads, parking lots, parking facilities, rights-of-way, utilities, easements and other interests in land, machinery and equipment, and all appurtenances and facilities either on, above or under the ground that are used or usable in connection with any of the structures mentioned in this subsection. See Maine Revised Statutes Title 20-A Sec. 10951
Evidences of indebtedness bearing duly authorized signatures of officers or officials holding office on the date of signing shall be valid and binding obligations, notwithstanding that before the delivery of and payment for the obligation any or all persons whose signatures appear on the evidences of indebtedness shall have ceased to be such officers or officials. The validity of evidences of indebtedness shall not be dependent on nor affected by the validity or regularity of any proceedings to acquire any project financed with the proceeds of evidences of indebtedness, or to refund outstanding evidences of indebtedness, or otherwise taken in connection with the financing transaction. [PL 1987, c. 735, §14 (NEW).]
SECTION HISTORY
PL 1987, c. 735, §14 (NEW).