Maine Revised Statutes Title 4 Sec. 1605 – Leasing or renting property of the authority
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maine Revised Statutes Title 4 Sec. 1605
- Authority: means the Maine Governmental Facilities Authority as established by this Act. See Maine Revised Statutes Title 4 Sec. 1603
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Securities: means any bonds, notes or other evidences of indebtedness authorized by this Act. See Maine Revised Statutes Title 4 Sec. 1603
For the purposes of this chapter, the authority may lease, rent, assign or otherwise dispose of a project, projects or part of any project only to the State, any agency, instrumentality or department of the State or branch of State Government or any related agency of state, county or local government and the revenues derived by the authority from any lease or rental agreement must be used, as necessary, to pay the principal interest and other associated costs on or with respect to any securities issued pursuant to this chapter. [PL 1997, c. 523, §13 (AMD).]
SECTION HISTORY
PL 1987, c. 438, §1 (NEW). PL 1997, c. 523, §13 (AMD).