Resolve, Authorizing the Finance Authority of Maine To Oversee an Obligation Owed to the State by Lincoln Paper and Tissue, LLC

Sec. 1. Assignment of rights, title, interest in promissory note. Resolved: That the Commissioner of Environmental Protection is authorized to assign to the Finance Authority of Maine all of the rights, title and interest in and to a promissory note with a maturity date of May 26, 2009 and all related documents relating to an indebtedness from Lincoln Paper and Tissue, LLC in the original amount of $860,000 and all interest accrued thereon. Upon such assignment, the promissory note is an obligation owed to the Finance Authority of Maine, which may be administered, collected or compromised as determined by the Finance Authority of Maine.

summary

This resolve authorizes the Commissioner of Environmental Protection to assign to the Finance Authority of Maine certain debt obligations under a promissory note with a maturity date of May 26, 2009 owed to the State by Lincoln Paper and Tissue, LLC.