Sec. F-1. 4 MRSA §1610-D is enacted to read:
§1610-D. Additional securities
Notwithstanding any limitation on the amount of securities that may be issued pursuant to section 1606, subsection 2, the authority may issue additional securities in an amount not to exceed $9,000,000 outstanding at any one time for preliminary planning costs and capital repairs and improvements at various state facilities.
Sec. F-2. Maine Governmental Facilities Authority; issuance of securities. Pursuant to the Maine Revised Statutes, Title 4, section 1606, subsection 2 and section 1610-D, and notwithstanding the limitation contained in Title 4, section 1606, subsection 2 regarding the amount of securities that may be issued, the Maine Governmental Facilities Authority is authorized to issue securities in its own name in an amount up to $9,000,000 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.
Sec. F-3. 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 1610-D must be expended for preliminary planning costs and capital repairs and improvements to state-owned facilities.
Sec. F-4. Debt Service - Government Facilities Authority; balance carried forward. Notwithstanding any other provision of law, $1,436,982 of fiscal year 2004-05 savings resulting from the refunding and reissuance of certain lease revenue bonds in the Debt Service - Government Facilities Authority, General Fund account within the Department of Administrative and Financial Services carries forward into fiscal year 2005-06.
Sec. F-5. Debt Service - Government Facilities Authority; lapsed balances. Notwithstanding any other provision of law, $2,749,600 of fiscal year 2004-05 and fiscal year 2005-06 savings resulting from the refunding and reissuance of certain lease revenue bonds in the Debt Service - Government Facilities Authority, General Fund account within the Department of Administrative and Financial Services lapses to the unappropriated surplus of the General Fund no later than June 30, 2006.
Sec. F-6. Appropriations and allocations. The following appropriations and allocations are made.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Debt Service - Government Facilities Authority 0893
Initiative: Provides funds to pay the debt service associated with Maine Governmental Facilities Authority borrowing for major repairs and capital construction projects.
GENERAL FUND 2005-06 2006-07
All Other $0 $1,327,500
__________ __________
GENERAL FUND TOTAL $0 $1,327,500
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