Emergency preamble. Whereas, Acts of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and
Whereas, the North Jay Water District needs to replace old water mains, and the needed funds will exceed the current borrowing capacity of the district; and
Whereas, the district needs an immediate increase in its borrowing authority in order to accomplish the needed replacements; and
Whereas, this legislation is necessary for the health of the inhabitants of the North Jay Water District; and
Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,
Be it enacted by the People of the State of Maine as follows:
Sec. 1. P&SL 1951, c. 107, §9, first sentence, as amended by P&SL 1967, c. 215, §1, is further amended to read:
For accomplishing the purposes of this Act, said the district, through its trustees, is authorized to borrow money from time to time, not exceeding $500,000 $900,000 and to issue therefor the interest-bearing negotiable notes or bonds of the district, maturing serially or otherwise, and to make subsequent renewals of the same in whole or in part, and for said purposes and for the purpose of refunding any notes, bonds or other lawful indebtedness, to establish a fund therefor, and for expenses and liabilities incurred or assumed under the provisions of this Act, including expenses in the creation of this district, in securing sources of supply, taking water and land, paying damages, laying pipes, constructing, maintaining and operating a water plant and making extensions, additions and improvements to the same, the said district, through its trustees, may, from time to time, issue bonds of the district to an amount necessary in the judgment of the trustees therefor, maturing at one time or in uniform or varying installments, with or without call provisions and at such rates of interest and on such terms and conditions as the trustees shall determine.
Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.
Effective May 6, 2003.
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