Lapse of unused General Fund bond issues

  1. Law
  2. Maine Revised Statutes
  3. LEGISLATURE
  4. STATE DEBT
  5. Lapse of unused General Fund bond issues

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§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.   [PL 1983, c. 176, Pt. A, §2 (NEW).]

SECTION HISTORY

PL 1983, c. 176, §A2 (NEW).


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