An Act To Authorize Increased Borrowing by the Maine Governmental Facilities Authority To Support the Maine Correctional Center in South Windham

Sec. 1. 4 MRSA §1610-A,  as enacted by PL 1997, c. 752, §2, is amended to read:

§ 1610-A. Additional securities

Notwithstanding any limitation on the amount of securities that may be issued pursuant to section 1606, subsection 2, the authority may issue additional securities in an amount not to exceed $85,000,000 $165,000,000 outstanding at any one time for correctional facilities the Maine Correctional Center in South Windham.

summary

This bill amends current law regarding the authority of the Maine Governmental Facilities Authority to issue securities to increase the ceiling on the securities outstanding for correctional facilities to $165,000,000 and specifies that the securities must be used for the Maine Correctional Center in South Windham.