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| 7. Employees. The authority may employ an executive director and | | such other technical experts, agents and employees, permanent and | | temporary, that it requires and may determine their qualifications, | | duties and compensation. Permanent employees of the authority are | | eligible to elect to participate in the Maine State Retirement | | System, the state employee health plan under section 285, any | | state-deferred compensation plan or any other plan or program | | adopted by the members to the extent the members may determine. | | For required legal services, the authority may employ or retain its | | own counsel and legal staff. |
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| | | Sec. 4. 5 MRSA §13120-I, sub-§1, as enacted by PL 2001, c. 703, §6, is | | amended to read: |
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| | | 1. Authorization. The authority may provide by resolution | | for the issuance of bonds for the purpose of funding the | Community Industrial Buildings Fund, as established in section | 13120-O | | proposed commercial facilities and improvement of existing or | | acquired commercial facilities and for the fulfillment of other | | undertakings that it may assume. The bonds of the authority do | | not constitute a debt of the State or of any agency or political | | subdivision of the State but are payable solely from the revenue | | of the authority, and neither the faith nor credit nor taxing | | power of the State or any political subdivision of the State is | | pledged to payment of the bonds. Notwithstanding any other | | provision of law, any bonds issued pursuant to this subchapter | | are fully negotiable. If any member of the board of trustees | | whose signature appears on the bond or coupons ceases to be a | | member of the board of trustees before the delivery of those | | bonds, that signature is valid and sufficient for all purposes as | | if that member of the board of trustees had remained a member of | | the board of trustees until delivery. |
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| | | Sec. 5. 5 MRSA §13120-N, sub-§1, ¶¶C and D, as enacted by PL 2001, c. | | 703, §6, are amended to read: |
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| | | C. The authority shall charge interest on loans or funds | provided under this section and section 13120-O | | municipality or local development corporation for a | | community industrial building that remains unoccupied for 3 | | or more years following completion of the building. |
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| | | D. The authority shall adopt rules under chapter 375 with | | respect to: |
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| | | (1) The methodology and criteria for allocating funds | | to community industrial building projects; |
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