§1855. Organized Townships Fund
1. Fund; continued existence. The Organized Townships Fund, which includes the existing principal of the fund arising from the public reserved lots before October 3, 1973 and any accrued but unexpended income of the fund since that date, must continue. The income of the fund must be credited to the fund annually as earned.
[PL 1997, c. 678, §13 (NEW).]
2. Administration; income; incorporation into town. The Treasurer of State shall hold and administer the Organized Townships Fund. The income of the fund must be added to the principal of the fund until the inhabitants of a township or tract are incorporated into a municipality, unless previously expended according to law. When any such tract or township is incorporated as a town, the Treasurer of State shall pay the funds belonging to that town to the treasurer of the town. The funds must be added to the funds of that corporation and held and managed as other school funds of that town are required to be held and managed.
[PL 1997, c. 678, §13 (NEW).]
SECTION HISTORY
PL 1997, c. 678, §13 (NEW).
Structure Maine Revised Statutes
Part 2: FORESTS, PARKS, LAKES AND RIVERS
Chapter 220: BUREAU OF PARKS AND PUBLIC LANDS
Subchapter 4: PUBLIC RESERVED LANDS
12 §1845. Definitions relating to public reserved lands
12 §1846. Access to public reserved lands
12 §1847. Management of public reserved lands
12 §1848. Sale of natural resources from public reserved lands
12 §1849. Revenue from public reserved lands
12 §1850. Acquisition of public reserved land
12 §1851. Sale of public reserved lands
12 §1852. Transfer or lease of public reserved lands
12 §1853. Annual report dealing with public reserved lands
12 §1854. Revenue sharing on public reserved lands
12 §1855. Organized Townships Fund
12 §1856. Unorganized Territory School Fund
12 §1857. Timber trespass on public reserved lands
12 §1858. Location of public reserved lands
12 §1859. Funding for educational programs related to logging and forestry