TRANSPORTATION INVESTMENT PARTNERSHIPS

§1821.__State aid for arterial and major collector highway

capital projects

Municipalities may choose to participate in the arterial and major collector highway capital projects program created under this section.__Participating municipalities shall have a department-approved transportation plan for state and state aid highways and comply with policies and procedures adopted by the Department of Transportation.__The plan must identify those capital improvements needed to remove or mitigate substandard conditions.__A participating municipality may finance improvement projects from the approved plan in either of the following ways:

1.__State and municipal investments.__Following authorization of the transportation improvement project by the Commissioner of Transportation and within 2 years of a mutual agreement between the municipality and the Department of Transportation and a financial commitment by the municipality, the Treasurer of State shall make a deposit of Highway Fund revenues and General Fund revenues, each fund amount equal to the municipal contribution, into a Maine Municipal Bond Bank trust account opened in the name of the municipality. The contributions of local funds may not exceed the product of $226 multiplied by the passenger car equivalents at peak hour for traffic movement permits issued under section 704-A for that municipality in the prior year.__ Except for the Highway Fund contributions, money deposited in the account may be used for utility and storm water improvements related to the transportation improvement project; or

2.__State, municipal and private investments.__Following authorization of the transportation improvement project by the Commissioner of Transportation and within 2 years of a mutual agreement between the municipality and the Department of Transportation, the Treasurer of State shall make a deposit of Highway Fund revenues equal to the municipal contribution into a Maine Municipal Bond Bank trust account opened in the name of the municipality.__The contributions of local funds may not exceed the projected level of private investment in transportation improvements within the plan area required under section 704-A.

This section does not relieve the Department of Transportation of its obligation to make improvements to state and state aid highways without municipal participation.