LD 2339
pg. 2
Page 1 of 6 An Act to Provide Assistance in the Cleanup of the Plymouth Waste Oil Site ... Page 3 of 6
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LR 3283
Item 1

 
1. Fund established. The Wells and Plymouth Waste Oil Clean-up
Fund, referred to in this section as the "fund," is established
under the jurisdiction and control of the authority.

 
2. Sources of money. The following money must be paid into
the fund:

 
A. All money appropriated for inclusion in the fund or
appropriated to the authority for use in providing financial
assistance to responsible parties as defined in section 963-
A, subsection 47-A, subject to any restrictions applicable
to the appropriation;

 
B. Subject to any pledge, contract or other obligation, all
interest, dividends or other pecuniary gains from investment
of money of the fund;

 
C. Subject to any pledge, contract or other obligation any
money the authority receives in repayment of advances from
the fund;

 
D. Money transferred from the available balance in the
Underground Oil Storage Replacement Fund, subject to the
limitations of section 1024-A;

 
E. Money transferred from the available balance in the
Maine Rainy Day Fund pursuant to Title 5, section 1513,
subsection 1-P; and

 
F. Any other money available to the authority and directed
by the authority to be paid into the fund.

 
3. Eligibility to participate in loan program. The authority
may use money in the fund to carry out any power of the authority
under this section or under section 1026-R, including, but not
limited to, the pledge or transfer and deposit of money in the
fund as security for and the application of money in the fund in
payment of principal, interest and other amounts due on insured
loans. Money in the fund may be used for direct loans or
deferred loans for all or part of the waste oil disposal site
clean-up project when the authority determines that:

 
A. The applicant is determined to be a responsible party
with respect to the waste oil disposal site and the
applicant is domiciled or has a principal place of business
in the State;

 
B. If the applicant is not a unit of local government, the
applicant demonstrates financial need for the assistance;


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