S.P. 950 - L.D. 2489
An Act to Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 2001
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, 2001 must be segregated, apportioned and disbursed as designated in the following schedule.
MAINE TURNPIKE AUTHORITY
Personal Services $546,783
All Other 921,189
Accounts and Controls
Personal Services 509,132
All Other 227,536
Personal Services 2,825,761
All Other 1,916,536
Personal Services 698,929
All Other 983,019
Personal Services 7,761,184
All Other 2,861,111
Public Safety and Special Services
Personal Services 260,547
All Other 4,078,350
Personal Services 537,318
All Other 435,345
Subtotal of Line Items Budgeted 24,562,740
General Contingency -
5% of line items budgeted for 2001
(10% allowed) 1,228,137
MAINE TURNPIKE AUTHORITY ____________
TOTAL REVENUE FUNDS $25,790,877
Sec. 2. Transfer of allocations. Any balance of an 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 submis-sion 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 2001 that are necessary for capital expenditures and reserves and to meet the requirements of any resolution authorizing bonds of the Maine Turnpike Authority during 2001, 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.
Debt Service Fund $17,240,000
Reserve Maintenance Fund 18,500,000
General Reserve Fund, to be applied as follows:
Capital Improvements 431,459
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.
Effective August 11, 2000, unless otherwise indicated.
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