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| 2.__Payment of bonds, premiums and interest.__The bonds, premium, | if any, and interest have been paid or a sufficient amount for the | payment of the bonds and interest to maturity or a prior redemption | date have been irrevocably set aside in trust for the benefit of | the bondholders. |
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| | 1.__Annual financial report.__The authority shall submit | annually to the Governor, the Executive Director of the | Legislative Council and the joint standing committee of the | Legislature having jurisdiction over housing and economic | development matters, not later than 120 days after the close of | the authority's fiscal year, a complete report on the activities | of the authority. The report may also be provided to any other | member of the Legislature and to any other person. The report | must include all of the following for the previous year: |
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| A.__A description of the authority's operations; |
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| B.__An accounting of the authority's receipts and | expenditures, assets and liabilities at the end of its | fiscal year; |
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| C.__A listing of all property transactions pursuant to | section 13083-K; |
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| D.__An accounting of all activities of any special utility | district formed under section 13083-L; |
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| E.__A listing of any property acquired by eminent domain | under section 13083-I; |
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| F.__A listing of any bonds issued during the fiscal year | under section 13083-I; |
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| G.__A statement of the authority's proposed and projected | activities for the ensuing year; and |
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| H.__Recommendations regarding further actions that may be | suitable for achieving the purposes of this article. |
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| | Sec. 2. Initial appointments; inform joint standing committee. The Governor | shall inform the joint standing committee of the Legislature | having jurisdiction over economic development matters, no later | than March 15, 2007, of the initial appointments to the Midcoast | Regional Redevelopment Authority pursuant to the Maine Revised | Statutes, Title 5, section 13083-I, subsection 2. |
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