Public Laws

124th Legislature

First Regular Session


Parts: A B C D E F G H I J K L M N O P Q R S T U V W X Y

Chapter 413

H.P. 269 - L.D. 333

PART Q

Sec. Q-1. 23 MRSA §1604, sub-§3,  as enacted by PL 2007, c. 470, Pt. C, §1, is amended to read:

3. TransCap revenue bonding.   The level of TransCap revenue bonding as authorized by Title 30-A, section 6006-G is limited by the level of revenue authorized and exclusively dedicated to the Maine Municipal Bond Bank for debt service for such bonds and by bond issuer requirements. TransCap bonds must be assumed to have terms of not more than 15 years and to be available only for capital projects that have an anticipated useful life of at least 5 years greater than as long as the bond term. TransCap bonds must be authorized by the Legislature as provided in Title 30-A, section 6006-G.

Sec. Q-2. PL 2007, c. 647, §5  is amended to read:

Sec. 5. Authorization to issue TransCap Trust Fund revenue bonds for bridges. Notwithstanding any other provision of law, the Maine Municipal Bond Bank, at the request of the Department of Transportation, is authorized to issue TransCap Trust Fund revenue bonds as provided in the Maine Revised Statutes, Title 30-A, section 6006-G from time to time in amounts that in total do not exceed $160,000,000 from the effective date of this bill Act to fiscal year 2012-13 for the purpose of making capital improvements to or removal of bridges and minor spans on or over public ways in the State or related capital costs. This section does not limit the ability to authorize additional TransCap Trust Fund revenue bonds for additional bridge needs or any other eligible purpose.

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