§1978. Termination of the authority
The authority shall not be dissolved until such time as: [PL 1981, c. 595, §3 (NEW).]
1. Legislature provide for termination. The Legislature shall provide for its termination; and
[PL 1981, c. 595, §3 (NEW).]
2. Payment of bonds, premiums and interest. All bonds, the premium, if any, and the interest thereon shall have been paid or a sufficient amount for the payment of all bonds and the interest to maturity or prior redemption date thereon shall have been irrevocably set aside in trust for the benefit of the bondholders.
[PL 1981, c. 595, §3 (NEW).]
SECTION HISTORY
PL 1981, c. 595, §3 (NEW).
Structure Maine Revised Statutes
23 §1962. Preservation of rights
23 §1963. Maine Turnpike Authority
23 §1964-A. Board of directors
23 §1965. Maine Turnpike Authority; powers
23 §1965-A. Widening of the turnpike between Exit 1 and Exit 6-A (REPEALED)
23 §1965-B. Widening of the turnpike between mile marker 44 and mile marker 53
23 §1965-C. Construction of a connector to Gorham
23 §1966. Obligations of the authority
23 §1967. Property of the authority; eminent domain
23 §1969. Application of proceeds of bonds or notes in anticipation thereof
23 §1971. Exemption from taxes
23 §1973. Maintenance of the turnpike
23 §1974. Use of turnpike revenues
23 §1975. Provisions in case of default on bonds
23 §1976. Interim certificates
23 §1978. Termination of the authority
23 §1979. Governmental functions