Sec.* C-3. Amended lease-purchase authorized for vehicles or equipment. Pursuant to the Maine Revised Statutes, Title 5, section 1587, the Department of Transportation, Motor Transport Service, is authorized to establish lease-purchase contracts for the procurement of vehicles or equipment. The term of the contracts may not be more than 7 years. The cumulative total principal value outstanding principal debt of the lease-purchase contracts may not exceed $12,000,000. The interest rate may not exceed 8% and total interest costs outstanding debt for interest may not exceed $2,880,000.

PART E

Sec. E-1. Highway Fund Salary Plan; lapsed balances. Notwithstanding any other provision of law, $4,000,000 in the Compensation and Benefit Plan, Highway Fund account in the Department of Administrative and Financial Services lapses to the unallocated balance of the Highway Fund in fiscal year 2002-03.

Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.