HP1054, LD 1505, item 2, Document Text

Amend the resolve by striking out all of section 1 (page 1, lines 13 to 21 in L.D.) and inserting the following:

‘Sec. 1. Members of the Finance Authority of Maine; terms. Resolved: That, notwithstanding the Maine Revised Statutes, Title 10, section 966, the terms of certain members of the Finance Authority of Maine are as follows:

1. The term of the member appointed pursuant to Title 10, section 965, subsection 2, paragraph B, following its expiration in 2013, next expires in 2015;

2. The term of the member appointed pursuant to Title 10, section 965, subsection 3, paragraph B that expires in 2013 next expires in 2015; and

3. The term of the member appointed pursuant to Title 10, section 965, subsection 3, paragraph C, following its expiration in 2013, next expires in 2016.

Following completion of the adjusted terms of members under this section, terms of members under this section are for 4 years.’

summary

This amendment, like the resolve, amends the terms of membership of 3 members of the board of directors of the Finance Authority of Maine to ensure that the terms of the board members remain staggered. However, the amendment changes one of the board members, pushes back the terms affected and clarifies that members serve 4-year terms after the changed terms have expired.

HP1054 LD 1505	Second Regular Session - 124th Maine Legislature C "A", Filing Number H-657, Sponsored by Text: MS-Word, RTF or PDF		LR 2325 Item 2
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