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
Personal Services $490,288
All Other 1,245,176
__________
TOTAL 1,735,464
Accounts and Control
Personal Services 500,107
All Other 283,246
__________
TOTAL 783,353
Highway Maintenance
Personal Services 2,778,474
All Other 2,040,395
__________
TOTAL 4,818,869
Garages
Personal Services 667,472
All Other 1,093,032
__________
TOTAL 1,760,504
Fare Collection
Personal Services 6,703,050
All Other 3,572,164
__________
TOTAL 10,275,214
Public Safety and Special Services
Personal Services 180,955
All Other 3,137,959
__________
TOTAL 3,318,914
Personal Services 664,290
All Other 495,074
__________
TOTAL 1,159,364
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
4,700,000.00
____________
TOTAL $23,499,151.25
Effective September 19,1997.
| Revisor of Statutes Homepage | Subject Index | Search | 118th Laws of Maine | Maine Legislature |
