{"data":{"id":"us-me/30-a-m.r.s.-4907","jurisdiction":"us-me","citation":"30-A M.R.S. §4907","heading":"Limitations","body":"1.  Limitations on amount of outstanding principal.  The Maine State Housing Authority may not at any time have an aggregate principal amount outstanding, in excess of $3,000,000,000 of mortgage purchase bonds secured by the Housing Reserve Fund or a Capital Reserve Fund to which section 4906, subsection 3, paragraph A applies.  Mortgage purchase bonds of the Maine State Housing Authority secured by capital reserve funds to which section 4906, subsection 3, paragraph A does not apply, bond or mortgage insurance, direct or indirect contract with the United States, purchase or repurchase agreement of guaranty with a banking or other financial organization or other credit arrangements securing the bonds may be issued up to $100,000,000 per calendar year in an aggregate principal amount outstanding at any time not to exceed $300,000,000.\n2.  Bond rating.  Mortgage purchase bonds must be rated at or before issuance of the bonds in a rating category of A or its equivalent or better by a nationally recognized rating agency.  A rating is not necessary for any issue of mortgage purchase bonds which:\nA.  Is not subject to section 4906, subsection 3, paragraph A; and\nB.  Is sold in its entirety to one or more financial institutions, insurance companies or similar finance entities for its own account and not with the present intention of resale.","path":["TITLE 30-A: MUNICIPALITIES AND COUNTIES","PART 2: MUNICIPALITIES","CHAPTER 201: HOUSING AUTHORITY","SUBCHAPTER 9: MORTGAGE CREDIT"],"source_url":"https://legislature.maine.gov/statutes/30-A/title30-Asec4907.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:36Z","sha256":"29981cb390884602f5a963858def8ba412859df97461c2f9898b731558567fc0","source_id":"us-me","stale":false,"prev":"us-me/30-a-m.r.s.-4906","next":"us-me/30-a-m.r.s.-4908"},"notice":"GroundRules: Original legal text. Not legal advice."}