CHAPTER 111

S.P. 213 - L.D. 604

An Act To Allow the Maine Turnpike Authority To Benefit

from Advantageous Interest Rates

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

Sec. 1. 23 MRSA §1983 is enacted to read:

§1983.__Interest rate agreements

The authority is authorized to enter from time to time into agreements with another party, on terms and conditions that the authority determines are necessary or convenient, in which the authority agrees to make a payment to, or to receive a payment from, the other party based on a comparison at a future date between an interest rate specified on the date of the agreement and a rate derived on or about that future date from an interest rate index.__The authority is authorized to enter into any credit enhancement or liquidity agreement on terms and conditions that the authority determines are necessary or convenient for carrying out this section.