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PRIVATE & SPECIAL LAWS
Second Special Session of the 121st

CHAPTER 35
H.P. 1349 - L.D. 1825

An Act To Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending
December 31, 2005

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, 2005 must be segregated, apportioned and disbursed as designated in the following schedule.

MAINE TURNPIKE AUTHORITY 2005
Administration

Accounts and Controls

Highway Maintenance

Equipment Maintenance

Fare Collection

Public Safety and Special Services

Building Maintenance

Subtotal of Line Items Budgeted $32,682,151
General Contingency - 5.05% of line
items budgeted for 2005 (10% allowed) 1,651,908

MAINE TURNPIKE
AUTHORITY
___________

TOTAL REVENUE FUNDS $34,334,059

     Sec. 2. Transfer of allocations. Any balance of the allocation for "General Contingency" made by the Legislature for the Maine Turnpike Authority may be transferred at any time prior to the closing of the books to any other allocation or subdivision of any other allocation made by the Legislature for the use of the Maine Turnpike Authority for the same calendar year. Any balance of any other allocation or subdivision of any other 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 other 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, other than a transfer from "General Contingency," 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 2005 that are necessary for capital expenditures and reserves and to meet the require-ments of any resolution authorizing bonds of the Maine Turnpike Authority during 2005, including debt service and the maintenance of reserves for debt service and reserve maintenance, is submitted.

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-A.

     Debt Service Fund $19,947,304

     Reserve Maintenance Fund 16,000,000

     General Reserve Fund, to be

     applied as follows:

TOTAL $35,037,220

Effective July 30, 2004, unless otherwise indicated.

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