Previous PageTable Of ContentsNext Page

PRIVATE & SPECIAL LAWS
First Special Session of the 118th

CHAPTER 28
H.P. 744 - L.D. 1008

An Act to Make Allocation for Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 1998

Be it enacted by the People of the State of Maine as follows:

     Sec. 1. Allocations. Gross revenues of the Maine Turnpike Authority for the calendar year ending December 31, 1998 must be segregated, apportioned and disbursed as designated in the following schedule.

          1998
MAINE TURNPIKE AUTHORITY
Administration

Accounts and Control

Highway Maintenance

Garages

Fare Collection

Public Safety and Special Services

Building Maintenance

MAINE TURNPIKE AUTHORITY     __________
TOTAL REVENUE FUNDS     $23,851,682

     Sec. 2. Transfer of allocations. Any balance of an allocation or subdivision of an allocation made by the Legislature for the Maine Turnpike Authority that at any time is not required for the purpose named in the allocation or subdivision may be transferred at any time prior to the closing of the books to any other allocation or subdivision of any allocation made by the Legislature for the use of the Maine Turnpike Authority for the same fiscal year subject to review by the joint standing committee of the Legislature having jurisdiction over transportation matters. Financial statements describing the transfer must be submitted by the Maine Turnpike Authority to the Office of Fiscal and Program Review 30 days before the transfer is to be implemented. In case of extraordinary emergency transfers, the 30-day prior submission requirement may be waived by vote of the committee. These financial statements must include information specifying the accounts that are affected, amounts to be transferred, a description of the transfer and a detailed explanation as to why the transfer is needed.

     Sec. 3. Encumbered balance at year-end. At the end of each calendar year, encumbered balances may be carried to the next calendar year.

     Sec. 4. Supplemental information. As required by the Maine Revised Statutes, Title 23, section 1961, subsection 6, the following statement of the revenues in 1998 that are necessary for capital expenditures and reserves and to meet the requirements of any resolution authorizing bonds of the Maine Turnpike Authority during 1998, including debt service and the maintenance of reserves for debt service and reserve maintenance is submitted.

               1998
Turnpike Revenue Bond Resolution Adopted April 18, 1991; Issuance of Bonds Authorized Pursuant to the Maine Revised Statutes, Title 23, section 1968, subsections 1 and 2.
     Debt Service Fund     $10,799,151.25
     Reserve Maintenance Fund     8,000,000.00
     General Reserve Fund, to be
     applied as follows:

Debt Service Fund under the General Special Obligation Bond Resolution Adopted May 15, 1996; Issuance of Bonds Authorized Pursuant to the Maine Revised Statutes, Title 23, section 1968, subsection 2-A.      $4,687,103.75

M.D.O.T. Transfers      12,896.25

TOTAL          $23,499,151.25

Effective September 19,1997.

Revisor of Statutes Homepage Subject Index Search 118th Laws of Maine Maine Legislature

About the 1997 Laws Of Maine

Previous PageTop Of PageTable Of ContentsNext Page

Office of the Revisor of Statutes
State House, Room 108
Augusta, Maine 04333

Contact the Office of the Revisor of Statutes