Bonds may be issued by the jail authority under this chapter |
as general obligations of the jail authority or as special |
obligations payable solely from particular funds. The |
principal, premium and interest on all bonds must be payable |
solely from the funds provided for that purpose from revenues.__ |
All bonds issued by the jail authority under this chapter are |
legal obligations of the jail authority and the jail authority |
is declared to be a quasi-municipal corporation within the |
meaning of section 5701.__Bonds may be issued under this |
chapter without obtaining the consent of any commission, |
board, bureau or agency of the State.__Bonds issued by the |
authority under this section are a municipal security as |
defined by section 5903 and are eligible for purchase by the |
Maine Municipal Bond Bank.__Except as provided in this |
subchapter, bonds issued under this chapter by the jail |
authority do not constitute a debt or liability of the State |
or of either county in the jail authority or a pledge of the |
faith and credit of the State or either county, and a |
statement to that effect must be recited on the face of the |
bonds. |