§13120-A. Authority established; purpose
The Maine Rural Development Authority, as established by section 12004‑F, subsection 18 and referred to in this subchapter as the "authority," is a body both corporate and politic and a public instrumentality of the State established for the purpose of providing loans to communities for the development of commercial facilities on a speculative basis and for serving as lender or investor in the acquisition, development, redevelopment and sale of commercial facilities in areas where economic needs are not supported by private investment. The authority may also provide loans to businesses that currently do not own real estate and that are not supported by private investment. [PL 2011, c. 563, §10 (AMD).]
The purposes of this subchapter are public and the authority is performing a governmental function in carrying out this subchapter. [PL 2001, c. 703, §6 (NEW).]
SECTION HISTORY
PL 2001, c. 703, §6 (NEW). PL 2003, c. 281, §1 (AMD). PL 2011, c. 563, §10 (AMD).
Structure Maine Revised Statutes
TITLE 5: ADMINISTRATIVE PROCEDURES AND SERVICES
Part 18-A: ECONOMIC AND COMMUNITY DEVELOPMENT
Chapter 383: ECONOMIC AND COMMUNITY DEVELOPMENT
Subchapter 9: MAINE RURAL DEVELOPMENT AUTHORITY
5 §13120-A. Authority established; purpose
5 §13120-C. Organization and responsibilities
5 §13120-D. Board of trustees; appointment; chair; employees
5 §13120-E. Agreements; contracts
5 §13120-F. Receive, use and invest funds
5 §13120-G. Acquisition, use and disposition of property
5 §13120-J. Interest of trustee or employee
5 §13120-K. Annual report; audit
5 §13120-M. Disclosure and confidentiality of records
5 §13120-N. Speculative industrial building program
5 §13120-O. Community Industrial Buildings Fund (REPEALED)
5 §13120-P. Commercial Facilities Development Program
5 §13120-R. Rural Manufacturing and Industrial Site Redevelopment Program
5 §13120-S. Inventory of nonproductive industrial or manufacturing sites