An Act To Extend The Maximum Time Period For Certain School Construction Bonds

This bill extends the maximum repayment period for certain school construction bonds from 25 to 30 years. It directly affects Maine school administrative districts and regional school units that issue bonds to fund temporary notes while awaiting permanent bond sales. The key provision changes existing law (20-A MRSA §1311 and §1490) to allow the combined period of bond issuance and temporary note loans to last up to 30 years instead of 25. This adjustment provides school districts with additional flexibility in managing short-term borrowing tied to long-term construction projects.