Maine Revised Statutes Title 23 Sec. 1978 – Termination of the authority
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The authority shall not be dissolved until such time as: [PL 1981, c. 595, §3 (NEW).]
1. Legislature provide for termination. The Legislature shall provide for its termination; and
[PL 1981, c. 595, §3 (NEW).]
Terms Used In Maine Revised Statutes Title 23 Sec. 1978
- Authority: means the Maine Turnpike Authority, created by Private and Special Law 1941, chapter 69, and continued in existence by this chapter. See Maine Revised Statutes Title 23 Sec. 1964
- bonds: means and includes a bond or note or other evidence of indebtedness authorized under this chapter whether issued under or pursuant to a bond resolution, trust indenture or loan or other security agreement. See Maine Revised Statutes Title 23 Sec. 1964
2. Payment of bonds, premiums and interest. All bonds, the premium, if any, and the interest thereon shall have been paid or a sufficient amount for the payment of all bonds and the interest to maturity or prior redemption date thereon shall have been irrevocably set aside in trust for the benefit of the bondholders.
[PL 1981, c. 595, §3 (NEW).]
SECTION HISTORY
PL 1981, c. 595, §3 (NEW).