§6416. Water districts; mutual funds
A water district may invest its funds, including sinking funds, reserve funds and trust funds, to the extent that the terms of any instrument creating the funds do not prohibit the investment, in shares of an investment company registered under the federal Investment Company Act of 1940, whose shares are registered under the United States Securities Act of 1933, only if the investments of the investment company are limited to obligations of the United States or any agency or instrumentality, corporate or otherwise, of the United States, or repurchase agreements secured by obligations of the United States or any agency or instrumentality, corporate or otherwise, of the United States. This section is in addition to and does not limit the power of a water district to invest its funds. [PL 1995, c. 616, §10 (NEW).]
SECTION HISTORY
PL 1995, c. 616, §10 (NEW).
Structure Maine Revised Statutes
Chapter 64: WATER DISTRICTS AND STANDARD DISTRICTS
35-A §6401. Purpose; scope and application; commission authority
35-A §6403. Procedures; legal effect
35-A §6404. Standard districts; powers
35-A §6407. Standard districts; procedure if public utility must be crossed
35-A §6408. Standard districts; authority to acquire property; rights of eminent domain
35-A §6409. Standard districts; procedures in exercising eminent domain
35-A §6410. Standard districts and water districts; trustees
35-A §6410-A. Consumer-owned water utilities; lack of quorum
35-A §6411. Standard districts; authorized to make and assume contracts
35-A §6413. Standard districts; debt limit and approval of voters of the district
35-A §6413-A. Water districts; authority to increase debt limits
35-A §6414. Standard districts; rates
35-A §6414-A. Water utilities; rate collection and liens
35-A §6415. Standard districts; tax exempt
35-A §6416. Water districts; mutual funds
35-A §6417. Water districts; rights conferred subject to provisions of law