Resolve, Regarding the Operations of the Greater Portland Public Development Commission

Sec. 1. Audited financial statement. Resolved: That, no later than January 15, 2009, the Greater Portland Public Development Commission, referred to in this resolve as "the commission," shall prepare, or cause to be prepared, an audited financial statement for the commission and shall submit a copy of the audited financial statement to the joint standing committee of the Legislature having jurisdiction over business, research and economic development matters; and be it further

Sec. 2. Report. Resolved: That, after receipt and review of the audited financial statement submitted pursuant to section 1, the joint standing committee of the Legislature having jurisdiction over business, research and economic development matters may report out a bill regarding the operations of the commission to the First Regular Session of the 124th Legislature; and be it further

Sec. 3. Funds. Resolved: That, pending final disposition of any legislation pursuant to section 2, the commission may not expend any funds other than those funds necessary for minimal operating expenses; and be it further

Sec. 4. Liabilities. Resolved: That, pending final disposition of any legislation pursuant to section 2, the commission may not incur any additional liabilities or obligations; and be it further

Sec. 5. Business activity. Resolved: That, pending final disposition of any legislation pursuant to section 2, the commission shall cease all new business activity.