Created in 1973 by the Maine State Legislature, the General Bond Resolution Program and the Maine Municipal Bond Bank have a fifty year history of providing Maine’s communities access to low-cost funds through the sale of its highly rated tax-exempt bonds. Capital financing through the General Bond Resolution Program allows borrowers to take advantage of the Bond Bank’s high investment grade rating, low-interest rates, and reduced issuance and post-issuance costs.
Towns, cities, counties, school systems, water & sewer districts, and other governmental entities.
Examples of eligible projects include but are not limited to:
Applications are accepted continuously during the year.
Typically two issues per year – spring and fall.
Click here for the current schedule.
Subject to current market conditions.
All other costs are paid for by the Bond Bank.
Click here for a complete listing of the costs associated with a bond issue.
Between 5 and 30 years. In all cases, the maximum loan term may not exceed the useful life of the financed asset.
No Prepayment permitted.
Funds are wired to an account specified by the borrower by the end of the day of closing.
Download a printable PDF version of the information above.
If you’d like to invest in municipal tax-exempt bonds, please click here.
Click here to generate an amortization estimate.
Local bond counsel serves a critical role in confirming the legality of debt issuances. Engaging counsel in the early stages will ensure that they will be able to provide a legal opinion, which is a loan program participation requirement.
Download printable PDF version of our approved list of bond counsel.