Sec. VV-1. University of Maine System. Pursuant to the Maine Revised Statutes, Title 20-A, section 10952, subsection 7, the University of Maine System shall borrow money and issue evidences of indebtedness in an amount up to $25,000,000 to fund capital improvements to support research and development in the system. The financing agreement may not exceed 15 years in duration and the interest rate may not exceed 6%.
Sec. VV-2. Appropriation. The following funds are appropriated from the General Fund to carry out the purposes of this Part.
2000-01
UNIVERSITY OF MAINE SYSTEM, BOARD OF TRUSTEES OF THE
Debt Service - University of Maine System
All Other $2,500,000
Provides funds for the first of an estimated 15 years of debt service payments on $25,000,000 of university bonds to be issued in fiscal year 2000-01 for capital improvements to support research and development in the University of Maine System. The financing agreement may not exceed 15 years in duration and the interest rate may not exceed 6%.
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