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2011 Maine Revised Statutes
TITLE 3: LEGISLATURE
Chapter 25: STATE DEBT
3 §553. Lapse of unused General Fund bond issues

Universal Citation:
3 ME Rev Stat § 553 (2011 through 125th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

§553. Lapse of unused General Fund bond issues

All General Fund bond issues passed by the Legislature for presentation to the voters shall contain language which stipulates that bond proceeds which have not been expended 10 years after the date of the sale of the bonds shall lapse to General Fund debt service. [1983, c. 176, Pt. A, §2 (NEW).]

SECTION HISTORY

1983, c. 176, §A2 (NEW).

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