CHAPTER 598

S.P. 728 - L.D. 1880

An Act To Amend the Laws Governing the Loring Development

Authority of Maine

Emergency preamble. Whereas, Acts of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and

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