Section 376-1-3 - BOND COUNSELA. The attorney or firm of attorneys whose opinion approving municipal bonds is offered to the Bank is any attorney or firm of attorneys whose opinion on such municipal bonds or bonds of a similar type and tenor is readily acceptable in the financial markets in the State of Maine, New England or the United States of America.B. The particular attorney or firm of attorneys shall have rendered opinions on municipal bonds of the same type and tenor as the municipal bonds of the Governmental Unit (as defined in the General Bond Resolution) which the Bank is purchasing and for which the opinion of such attorney or firm of attorneys is offered.C. At least two commercial banks in the State of Maine, with a capital and surplus of at least $3,000,000 who regularly purchase municipal bonds from governmental units have stated in writing in a letter signed by the chief investment officer that as to municipal bonds of the amounts, type and tenor referred to above each would and have accepted the opinion of the attorney or firm of attorneys whose opinion is being offered.D. In no event shall the Bank accept the opinion of an attorney or firm of attorneys whose opinion is acceptable only on a purely local basis i.e. approval of municipal bonds where purchaser is a local bank or dealer and bonds could not be marketed in financial centers if such opinion were the only opinion offered to a subsequent purchaser.94- 376 C.M.R. ch. 1, § 3