Maine Revised Statutes > Title 30-A > Part 2 > Subpart 9 > Chapter 225 > Subchapter 5 – Liquor Operation Revenue Bonds
Current as of: 2023 | Check for updates
|
Other versions
| § 6051 | Declaration of public policy; funding |
| § 6052 | Definitions |
| § 6053 | Liquor operation revenue bonds authorized |
| § 6054 | Liquor Operation Revenue Fund |
Terms Used In Maine Revised Statutes > Title 30-A > Part 2 > Subpart 9 > Chapter 225 > Subchapter 5 - Liquor Operation Revenue Bonds
- 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.
- Ancillary obligation: means the obligation of the bond bank in connection with liquor operation revenue bonds issued under this subchapter under any of the following entered into by the bond bank:
A. See Maine Revised Statutes Title 30-A Sec. 6052Bonds: means bonds of the bank issued under this chapter. See Maine Revised Statutes Title 30-A Sec. 5903 Capital reserve fund: means any capital reserve fund created or established as provided in section 6006, subsection 1?A. See Maine Revised Statutes Title 30-A Sec. 5903 Contract: A legal written agreement that becomes binding when signed. Cost of issuance: means an item of expense directly or indirectly payable or reimbursable by the bond bank and related to the authorization, sale or issuance of liquor operation revenue bonds, including, but not limited to, underwriting fees and fees and expenses of professional consultants and fiduciaries. See Maine Revised Statutes Title 30-A Sec. 6052 Deed: The legal instrument used to transfer title in real property from one person to another. 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 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. Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it. Financing costs: means all costs of issuance, capitalized interest, capitalized operating expenses and debt service reserves, fees and costs of any ancillary obligation or other fees, expenses and costs related to issuing, securing and marketing liquor operation revenue bonds. See Maine Revised Statutes Title 30-A Sec. 6052 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. Fund: means the Liquor Operation Revenue Fund established in section 6054. See Maine Revised Statutes Title 30-A Sec. 6052 General fund: means the fund created or established as provided in section 6007. See Maine Revised Statutes Title 30-A Sec. 5903 Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Liquor operation revenue bond: means a bond, note or other evidence of indebtedness issued by the bond bank pursuant to this subchapter. See Maine Revised Statutes Title 30-A Sec. 6052 Municipal bond: means a bond or note or evidence of debt issued by a municipality and payable from taxes or from rates, charges or assessments, but does not include any bond or note or evidence of debt issued under chapter 213 or Title 10, chapter 110, subchapter IV. See Maine Revised Statutes Title 30-A Sec. 5903 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. Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Reserve fund: means the Maine Municipal Bond Bank Reserve Fund created or established as provided in section 6006. See Maine Revised Statutes Title 30-A Sec. 5903 Revenues: means all fees, charges, money, profits, payments of principal of or interest on municipal securities and other investments, gifts, grants, contributions, appropriations and all other income derived or to be derived by the bank under this chapter. See Maine Revised Statutes Title 30-A Sec. 5903 Trustee: A person or institution holding and administering property in trust. United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72 Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72