Whereas, Loring Development Authority of Maine is considering several projects in 2004; and

Whereas, one of these projects must commence construction in 2004; and

Whereas, the financing of this project must be completed as soon as possible; and

Whereas, there have been many changes to federal and state law dealing with bonding powers; and

Whereas, the Loring Development Authority of Maine's enabling statute was adopted in 1993; and

Whereas, it is imperative that the changes in this bill take effect immediately to have the Loring Development Authority of Maine's bonding powers be updated and conform to the bonding powers of other state agencies and federal law; and

Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 5 MRSA §13080-A, sub-§6, as corrected by RR 1997, c. 2, §19, is amended to read:

6. Loring Air Force Base. "Loring Air Force Base" or "base" means those properties and facilities within the geographic boundaries of the United States Department of Defense air force base at Limestone existing on July 13, 1993. "Base" also includes the Madawaska dam site, the Loring Water System, the Loring #3 communications site in Limestone, the pipeline from Searsport to Limestone and other geographically separate property that the authority determines should be deemed considered part of the base, if the municipality in which the property is located has chosen not to accept the property and utilize it for other purposes.

Sec. 2. 5 MRSA §13080-B, sub-§1, ¶¶G, J and K, as enacted by PL 1993, c. 474, §1, are amended to read: