CHAPTER 77
H.P. 1522 - L.D. 2144
An Act to Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 1999
Be it enacted by the People of the State of Maine as follows:
Sec. 1. Allocation. Gross revenues of the Maine Turnpike Authority for the calendar year ending December 31, 1999 must be segregated, apportioned and disbursed as designated in the following schedule.
1999
MAINE TURNPIKE AUTHORITY
Administration
Personal Services $542,605
All Other 1,070,065
___________
TOTAL 1,612,670
Accounts and Controls
Personal Services 528,293
All Other 270,187
___________
TOTAL 798,480
Highway Maintenance
Personal Services 2,909,845
All Other 2,093,934
___________
TOTAL 5,003,779
Garages
Personal Services 716,704
All Other 1,153,797
___________
TOTAL 1,870,501
Fare Collection
Personal Services 7,137,730
All Other 3,424,988
___________
TOTAL 10,562,718
Public Safety and Special Services
Personal Services 216,172
All Other 3,579,727
___________
TOTAL 3,795,899
Building Maintenance
Personal Services 516,892
All Other 465,434
___________
TOTAL 982,326
MAINE TURNPIKE AUTHORITY ____________
TOTAL REVENUE FUNDS $24,626,374
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 calendar 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 1999 that are necessary for capital expenditures and reserves and to meet the requirements of any resolution authorizing bonds of the Maine Turnpike Authority during 1999, including debt service and the maintenance of reserves for debt service and reserve maintenance, is submitted.
1999
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 $10,520,935.00
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. $4,689,391.25
M.D.O.T. Transfers 10,608.75
4,700,000.00
TOTAL $23,220,935.00
Effective June 30, 1998.
| Revisor of Statutes Homepage | Subject Index | Search | 118th Laws of Maine | Maine Legislature |
