Sec. F-1. 5 MRSA §150, 2nd ¶, as amended by PL 1995, c. 665, Pt. P, §1, is further amended to read:
The Treasurer of State, with the approval of the Governor, may negotiate a temporary loan or loans in anticipation of taxes levied for that fiscal year, but not exceeding a total of that amount of taxes estimated by the Treasurer of State to be collected in the fiscal year in which the temporary loan or loans, or renewal of the temporary loan or loans, is made, as long as the temporary loans or renewals of the temporary loans do not exceed any limitation set forth in the Constitution of Maine, Article IX, Section 14. Any such loans may be renewed from time to time as the Treasurer of State, with the approval of the Governor, determines, except that each loan or renewal of the loan must be retired not later than the close of the fiscal year in which the loan was originally made and for which were levied the taxes in anticipation of the collection of which the loan was originally made; and that each loan or renewal of the loan must comply with the provisions of this section and the Constitution of Maine, Article IX, Section 14. The Treasurer of State shall pay the loan or loans in anticipation of taxes during the year and there is appropriated for any year in which the Treasurer of State and the Governor determine it necessary to borrow in anticipation of taxes the sum of $30,000,000; except that for fiscal year 1991-92, the sum may not exceed $150,000,000; for fiscal year 1992-93, the sum may not exceed $170,000,000; for fiscal year 1993-94, the sum may not exceed $170,000,000; and for fiscal year 1994-95, the sum may not exceed $175,000,000; and for fiscal year 1995-96, the sum may not exceed $182,000,000; and for fiscal year 1996-97, the sum may not exceed $190,000,000; and for fiscal year 1997-98, the sum may not exceed $100,000,000.
Sec. F-2. Appropriation. The following funds are appropriated from the General Fund to carry out the purposes of this Part.
1997-98
TREASURER OF STATE, OFFICE OF
Debt Service - Treasury
All Other $4,500,000
Provides funds to meet the debt service payments related to a $100,000,000 tax anticipation note for fiscal year 1997-98.
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