3. "BETR" means the Business Equipment Tax Reimbursement program established under the Maine Revised Statutes, Title 36, chapter 915.

4. "Bureau" means the Department of Administrative and Financial Services, Bureau of Revenue Services.

5. "Great Northern" means Great Northern Paper, Inc., Chapter 11 Debtor in Possession.

6. "Millinocket and East Millinocket mills BETR reimbursement" means the amount of the BETR reimbursement relating to the 2nd installment of property taxes assessed against Great Northern by Millinocket and East Millinocket for the 2002-03 property tax year, as certified by the bureau.

Sec. 2. Millinocket and East Millinocket BETR reimbursement loan program. Upon purchase by a business of substantially all of the assets of Great Northern, the authority shall provide a loan to the acquiring business in the amount of the Millinocket and East Millinocket mills BETR reimbursement, but not to exceed $1,550,000, on the following terms and conditions.

1. The loan must be made at the closing of the purchase of the Great Northern assets by the acquiring business.

2. The loan proceeds must be used to pay property taxes due the Town of Millinocket or the Town of East Millinocket for the 2002-03 property tax year at the closing of the purchase of the assets of Great Northern.

3. Interest may not be charged on the loan. The authority may charge an origination fee not to exceed 1% of the loan amount. The loan terms must provide for repayment at the time the acquiring business receives the Millinocket and East Millinocket mills BETR reimbursement.

4. Prior to the closing of the purchase of the assets of Great Northern, the bureau shall certify to the authority the amount of the Millinocket and East Millinocket mills BETR reimbursement. Upon request by the acquiring business, the bureau shall process and deliver this certificate to the authority prior to closing.

5. The bureau shall pay the Millinocket and East Millinocket mills BETR reimbursement up to the amount of the loan to the acquiring business and the authority as copayees. Any amount of Millinocket and East Millinocket mills BETR