LD 660
pg. 3
Page 2 of 5 An Act To Create the Maine Humanities Authority Page 4 of 5
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LR 164
Item 1

 
J.__For the setting aside of reserve and sinking funds and
the regulations and disposition of reserve and sinking
funds;

 
K.__For limitation on the issuance of additional bonds;

 
L.__For the procedure, if any, by which the contract with
the bondholder may be abrogated or amended;

 
M.__For the manner of sale and purchase of the bonds;

 
N.__For covenants against pledging of any of the revenue
of the authority;

 
O.__For covenants fixing and establishing rates and
charges for use of the authority's facilities and services
made available so as to provide at all times funds
sufficient to pay all costs of operation and maintenance,
meet and pay the principal and interest of all bonds as
they severally become due and payable; for the creating of
such revenues for the principal and interest of all bonds;
and for the meeting of contingencies and the operation and
maintenance of the authority's facilities as the directors
determine;

 
P.__For any other covenants as to rates and charges the
directors determine;

 
Q.__For covenants as to the rights, liability, powers and
duties arising upon the breach by the authority of any
covenant, condition or obligation;

 
R.__For covenants as to the bonds to be issued, as to the
issuance of those bonds in escrow and otherwise and as to
the use and disposition of the proceeds;

 
S.__For covenants as to the use of the authority's
facilities and their maintenance and replacement, the
insurance to be carried on them and the use and
disposition of insurance money;

 
T.__For the issuance of bonds in series;

 
U.__For the performance of any acts as may be in the
discretion of the directors necessary, convenient or
desirable to secure the bonds or make the bonds more
marketable; and

 
V.__To issue bonds on terms and conditions to effectuate
the purpose of this chapter.


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