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| | | An Act To Provide for the 2005 and 2006 Allocations of the |
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| | | State Ceiling on Private Activity Bonds |
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| | | Emergency preamble. Whereas, acts of the Legislature do not become | | effective until 90 days after adjournment unless enacted as | | emergencies; and |
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| | | Whereas, the Maine Revised Statutes, Title 10, section 363 and | | Private and Special Law 2003, chapter 38 make a partial | | allocation of the state ceiling on private activity bonds to some | | issuers for calendar year 2005, but leave a portion of the state | | ceiling unallocated and do not provide sufficient allocations for | | certain types of private activity bonds that may require an | | allocation prior to the effective date of this Act if not enacted | | on an emergency basis; and |
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| | | Whereas, if these bond issues must be delayed due to lack of | | available state ceiling, the rates and terms under which these | | bonds may be issued may be adversely affected, resulting in | | increased costs to beneficiaries or even unavailability of | | financing for certain projects; and |
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| | | 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, |
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