Maine Revised Statutes > Title 10 > Part 2 > Chapter 110 > Subchapter 3 – Revenue Obligation Securities Program
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Terms Used In Maine Revised Statutes > Title 10 > Part 2 > Chapter 110 > Subchapter 3 - Revenue Obligation Securities Program
- Accumulated contributions: means the sum of all the amounts credited to a member's individual account, together with regular interest on the account. See Maine Revised Statutes Title 3 Sec. 701
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authority: means the Finance Authority of Maine as established by this chapter. See Maine Revised Statutes Title 10 Sec. 963-A
- Average final compensation: means the average annual rate of earnable compensation of a member during the 3 years of creditable service, not necessarily consecutive, in which the average annual rate of earnable compensation is highest or during the member's entire period of creditable service if the period is less than 3 years. See Maine Revised Statutes Title 3 Sec. 701
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means any person who receives or is designated to receive a benefit provided by this chapter. See Maine Revised Statutes Title 3 Sec. 701
- Board of trustees: means the board provided for in section 731. See Maine Revised Statutes Title 3 Sec. 701
- Bond: means revenue obligation security. See Maine Revised Statutes Title 10 Sec. 963-A
- Bureau: means the Bureau of Health. See Maine Revised Statutes Title 22 Sec. 1692-A
- Code: means the United States Internal Revenue Code of 1986, as amended. See Maine Revised Statutes Title 3 Sec. 701
- Commissioner: means the Commissioner of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Creditable service: means service rendered while a member of the former Maine Legislative Retirement System, the Legislative Retirement Program, the former Maine State Retirement System or the State and Teacher Retirement Program for which credit is allowed under section 802. See Maine Revised Statutes Title 3 Sec. 701
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Department: means the Department of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
- Director: means the Director of the Bureau of Health or the director's designee. See Maine Revised Statutes Title 22 Sec. 1692-A
- Docket: A log containing brief entries of court proceedings.
- Earnable compensation: means the actual compensation of a Legislator. See Maine Revised Statutes Title 3 Sec. 701
- Efficiency Maine project: means a project approved by the Efficiency Maine Trust Board, as established in Title 5, section 12004?G, subsection 10?C, to carry out the purposes of Title 35?A, chapter 97 relating to increasing energy efficiency or conservation. See Maine Revised Statutes Title 10 Sec. 963-A
- Eligible collateral: means accounts, as-extracted collateral, chattel paper, commercial tort claims, consumer goods, deposit accounts, documents, equipment, farm products, fixtures, general intangibles, instruments, investment property, inventory, letter of credit rights, manufactured homes, money, real estate, supporting obligations and accessions to any of the foregoing and any other business assets. See Maine Revised Statutes Title 10 Sec. 963-A
- Energy conservation project: means the purchasing and installation of energy conservation equipment or facilities, including building modifications. See Maine Revised Statutes Title 10 Sec. 963-A
- Energy distribution system project: means an energy distribution system owned, in whole or in part, by an individual, municipality, corporation or other governmental entity or business association and that uses biomass, peat, solar, waste, water and related dams, wind, wood or coal or that distributes or transmits oil, biofuels, propane, compressed natural gas, liquefied natural gas or natural gas. See Maine Revised Statutes Title 10 Sec. 963-A
- Energy generating system project: means :
A. See Maine Revised Statutes Title 10 Sec. 963-AEntitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs. Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts Escrow: Money given to a third party to be held for payment until certain conditions are met. Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. facility: means any aboveground oil storage tank or tanks, together with associated piping, and transfer and dispensing facilities located over land or water of the State at a single location for more than 4 months per year and used or intended to be used for the storage or supply of oil. See Maine Revised Statutes Title 10 Sec. 963-A Federal Government: means the United States, the President of the United States and any current or future corporation, department, agency, authority or instrumentality created, designated or established by the United States, including, but not limited to, the Federal Land Bank, the Federal Intermediate Credit Bank and the Bank for Cooperatives. See Maine Revised Statutes Title 10 Sec. 963-A financial assistance: means guarantees, leases, insurance, financing credits, loans or the purchase or discounts thereof, letters of credit, financing assistance payments, grants or other financial aid. See Maine Revised Statutes Title 10 Sec. 963-A Financial document: means a lease, installment sale agreement, conditional sale agreement, note, mortgage, loan agreement or other instrument pertaining to an extension of financial assistance. See Maine Revised Statutes Title 10 Sec. 963-A financial institution: means any bank, trust company, national banking association, savings bank, savings and loan association, federal savings and loan association, industrial bank, mortgage company, insurance company, credit union, local development corporation or any other institution or entity authorized to do business in this State, or any state or federal agency which customarily provides financing assistance. See Maine Revised Statutes Title 10 Sec. 963-A Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72 Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. lands: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72 Lease: means a contract providing for the use of a project or portions of a project for a term of years for a designated or determinable rent. See Maine Revised Statutes Title 10 Sec. 963-A Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Legislator: means a member of the Legislature who is actively serving as of December 3, 1986, or who is elected subsequent to December 2, 1986. See Maine Revised Statutes Title 3 Sec. 701 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Lien: A claim against real or personal property in satisfaction of a debt. Loan: means an extension of credit made in consideration of a written promise of repayment or any other conditions that may be established by the authority, performance of which may be secured by mortgage. See Maine Revised Statutes Title 10 Sec. 963-A Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72 Member: means a Legislator who is included in the membership of the Legislative Retirement Program, as provided in section 801. See Maine Revised Statutes Title 3 Sec. 701 Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72 Mortgage: means an agreement granting a lien upon or a security interest in eligible collateral upon certain conditions and includes, but is not limited to, a mortgage of real estate, an assignment of rents, a pledge or a security agreement. See Maine Revised Statutes Title 10 Sec. 963-A Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Municipality: means any municipality as defined in Title 30?A, section 2001, subsection 8. See Maine Revised Statutes Title 10 Sec. 963-A Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Paper industry job retention project: means the acquisition and improvement of a paper production facility in the State, in which not less than 40% of the ownership of the project will be, at the time the financial assistance is provided, owned or controlled by or for the benefit of a majority of the employees of the project through a qualified employee stock ownership program or other employee ownership program recognized in the federal Internal Revenue Code. See Maine Revised Statutes Title 10 Sec. 963-A Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way. Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents. Professional: when used with reference to office space, means professions or professionals regulated or licensed under applicable state law. See Maine Revised Statutes Title 10 Sec. 963-A Project: means any eligible project. See Maine Revised Statutes Title 10 Sec. 963-A Regular interest: means interest at the rate which the Board of Trustees of the Maine Public Employees Retirement System sets from time to time, in accordance with Title 5, section 17156. See Maine Revised Statutes Title 3 Sec. 701 Retirement: means the termination of membership service with a retirement allowance granted under this chapter. See Maine Revised Statutes Title 3 Sec. 701 security: means a note, bond, interim certificate, debenture or other evidence of indebtedness, including any recovery zone facility bond or qualified energy conservation bond, payment of which is secured by a pledge of revenues, as provided in section 1045?A or 1065, or by assignment or pledge of other eligible collateral. See Maine Revised Statutes Title 10 Sec. 963-A Service of process: The service of writs or summonses to the appropriate party. Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Statute: A law passed by a legislature. Subpoena: A command to a witness to appear and give testimony. Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident. Trustee: A person or institution holding and administering property in trust. Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72 User: means one or more persons acting as lessee, purchaser, mortgagor or borrower under a financial document. See Maine Revised Statutes Title 10 Sec. 963-A Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72