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Me. Rev. Stat. tit. 30-A, § 6006-E

Maine school facilities finance lease-purchase program

Known as the Maine Municipal Bond Bank Act

The act spans §§ 5901 to 6054 (62 sections).

PL 1997, c. 787, §13 (NEW)

In addition to and in furtherance of any other assistance available to a school administrative unit in this chapter, the bank, in cooperation with the Department of Education, shall establish a lease-purchase program for buildings to be used by all school administrative units whose school facility lease-purchase payments receive reimbursement, subsidy or other payment from the State. For the purposes of this section, a lease-purchase program is a system for awarding leases for a school administrative unit pursuant to a competitive bidding process.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.