§150. Temporary loans by State
The Treasurer of State, with the approval of the Governor, may negotiate a temporary loan or loans in anticipation of the issuance of bonds authorized but not yet issued. Such temporary loan or loans shall be repaid from the proceeds of the bonds within one year from the date of the loan. [PL 1975, c. 771, §46 (AMD).]
The Treasurer of State, with the approval of the Governor, may negotiate a temporary loan or loans in anticipation of taxes levied for that fiscal year, but not exceeding a total of that amount of taxes estimated by the Treasurer of State to be collected in the fiscal year in which the temporary loan or loans, or renewal of the temporary loan or loans, is made, as long as the temporary loans or renewals of the temporary loans do not exceed any limitation set forth in the Constitution of Maine, Article IX, Section 14. Any such loans may be renewed from time to time as the Treasurer of State, with the approval of the Governor, determines, except that each loan or renewal of the loan must be retired not later than the close of the fiscal year in which the loan was originally made and for which were levied the taxes in anticipation of the collection of which the loan was originally made; and that each loan or renewal of the loan must comply with the provisions of this section and the Constitution of Maine, Article IX, Section 14. [PL 2001, c. 705, §1 (AMD).]
SECTION HISTORY
PL 1967, c. 417 (RPR). PL 1967, c. 544, §115 (AMD). PL 1969, c. 452 (AMD). PL 1971, c. 156 (AMD). PL 1971, c. 176, §§1,2 (AMD). P&SL 1975, c. 147, §C13 (AMD). PL 1975, c. 771, §46 (AMD). PL 1981, c. 705, §P (AMD). RR 1991, c. 2, §6 (COR). PL 1991, c. 5, §1 (AMD). PL 1991, c. 589, §1 (AMD). PL 1991, c. 589, §5 (AFF). PL 1991, c. 780, §BB1 (AMD). PL 1993, c. 382, §1 (AMD). PL 1993, c. 707, §P1 (AMD). PL 1995, c. 368, §V1 (AMD). PL 1995, c. 665, §P1 (AMD). PL 1997, c. 24, §F1 (AMD). PL 1997, c. 643, §E5 (AFF). PL 2001, c. 467, §A1 (AMD). PL 2001, c. 705, §1 (AMD).
Structure Maine Revised Statutes
TITLE 5: ADMINISTRATIVE PROCEDURES AND SERVICES
5 §121. Office; bond; salary; deputy; fees
5 §122. Conditions of bond; filing
5 §123. Bond premiums to be paid by State
5 §124. Governor may require new bond
5 §125. Personal use or receipt of money from treasury or credit prohibited
5 §126. -- Attorney General to prosecute violations
5 §127. Governor may hear complaints; removal from office
5 §128. Appointment of commissioner to fill vacancy (REPEALED)
5 §130. Payment of receipts into State Treasury
5 §131. Departmental collections
5 §132. Records; collections (REPEALED)
5 §133. Payments to be withheld and applied on accounts
5 §135. Deposit of state funds; limitations
5 §135-A. Establishment of other special revenue accounts
5 §137. Purchase of unmatured bonds of State
5 §138. Custody and servicing of securities; investment of trust funds; exceptions; prorations
5 §139. Disposal of money and securities
5 §140. -- Restoration of permanent trust funds (REPEALED)
5 §141. -- "Reserve against future losses" account (REPEALED)
5 §142. -- investment of sinking funds
5 §143. Register of investments and Treasurer of State's report
5 §144. Form of unregistered bonds
5 §145-B. Issuance of registered bonds; miscellaneous provisions
5 §145-C. Capital appreciation bonds
5 §146. Equivalent bond to be issued on assignment
5 §147. Cancellation and registry of old bonds
5 §148. Cremation of old bonds
5 §149. Signature of outgoing Treasurer of State valid
5 §150. Temporary loans by State
5 §150-A. Short-term borrowing in anticipation of federal transportation funds
5 §151. Funds of professional licensing boards
5 §151-A. Income from temporary investment of bonds
5 §152. Ratification of bond issue; signed statement
5 §154. Services to nonstate agencies
5 §156. Authorization to establish program; payments for MaineCare benefits prohibited