Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 203 - ALLOCATION OF STATE CEILING ON PRIVATE ACTIVITY BONDS
Section 457-203-11 - Transition Rules

Universal Citation: 94 ME Code Rules ยง 457-203-11

Current through 2024-38, September 18, 2024

A. Section 4 of this rule applies where an inducement resolution was adopted or other official action was taken June 12, 1985 or later unless otherwise provided.

B. The provisions of subsection 4.C pertaining to term does not apply where an inducement resolution was adopted or other official action was taken on or before December 31, 1985, provided that an allocation is made for the bond issue on or before December 31, 1986.

C. [Deleted].

D. [Deleted).

E. Reservations or allocations issued for bond issues which do not require an allocation of the State ceiling shall lapse and be of no further force or effect upon enactment of Federal legislation exempting such issues from the State ceiling, and may be reallocated in accordance with this rule.

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