Public Laws

Chapter 240

H.P. 383 - L.D. 499

PART Q

Sec. Q-1. Maine Governmental Facilities Authority; issuance of securities. Pursuant to the Maine Revised Statutes, Title 4, section 1606, the Maine Governmental Facilities Authority is authorized to issue securities in its own name in an amount up to $11,000,000 in fiscal year 2007-08 and $6,000,000 in fiscal year 2008-09 for the purpose of paying the cost, including preliminary planning costs, including but not limited to needs assessments and space planning, master planning, capital asset assessments, concept design, design development and final design including construction drawings, associated with capital repairs and improvements to state-owned facilities throughout the State as designated by the Commissioner of Administrative and Financial Services. The authority may also issue additional securities in its own name in an amount up to $750,000 in fiscal year 2007-08 for preconstruction costs and capital improvements for a Department of Corrections project at the Bangor campus and for other capital improvements at the correctional facilities within the Department of Corrections any part or all of which may be advanced by the Department of Administrative and Financial Services, Bureau of General Services with reimbursement upon issuance of the additional securities.

Sec. Q-2. Proceeds. The proceeds from the sale of the securities issued by the Maine Governmental Facilities Authority pursuant to the Maine Revised Statutes, Title 4, section 1606 must be used solely for the purpose for which the securities were authorized.

Sec. Q-3. Debt Service - Governmental Facilities Authority account; balance carried forward. Notwithstanding any other provision of law, any unexpended balance in the Debt Service - Governmental Facilities Authority, General Fund account in the Department of Administrative and Financial Services on June 30, 2007 must be carried forward for the same purpose until June 30, 2009.