Private & Special Laws

124th Legislature

First Regular Session



Chapter 16

H.P. 348 - L.D. 486

An Act To Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 2010

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, 2010 must be segregated, apportioned and disbursed as designated in the following schedule.

MAINE TURNPIKE AUTHORITY 2010
Administration
Personal Services $1,228,245
All Other 1,858,344
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TOTAL $3,086,589
Accounts and Controls
Personal Services $3,130,431
All Other 1,429,060
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TOTAL $4,559,491
Highway Maintenance
Personal Services $4,385,102
All Other 3,100,730
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TOTAL $7,485,832
Equipment Maintenance
Personal Services $1,070,368
All Other 2,299,303
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TOTAL $3,369,671
Fare Collection
Personal Services $11,711,809
All Other 4,943,656
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TOTAL $16,655,465
Public Safety and Special Services
Personal Services $471,666
All Other 5,398,112
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TOTAL $5,869,778
Building Maintenance
Personal Services $781,733
All Other 702,632
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TOTAL $1,484,365
Subtotal of Line Items Budgeted $42,511,191
General Contingency - 5% of line items budgeted for 2010 (10% allowed) 2,125,560
MAINE TURNPIKE AUTHORITY inline graphic sline.gif
TOTAL REVENUE FUNDS $44,636,751

Sec. 2. Transfer of allocations. Any balance of the 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 the 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 2010 that are necessary for capital expenditures and reserves and to meet the requirements of any resolution authorizing bonds of the Maine Turnpike Authority during 2010, 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-A 2010
Debt Service Fund $26,264,560
Reserve Maintenance Fund 25,000,000
General Reserve Fund, to be applied as follows:
Capital Improvements 12,679,899
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 2,466,813
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TOTAL $66,411,272

Effective September 12, 2009

Office of the Revisor of Statutes
State House, Room 108
Augusta, ME 04333