LD 1161
pg. 25
Page 24 of 30 An Act to Create the East-West Highway Authority Page 26 of 30
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LR 1359
Item 1

 
§1999-C.__Interim certificates

 
Before the issuance of any bonds, the authority may issue
interim certificates in such a manner and with such conditions as
the authority may determine to be exchanged for the bonds when
issued.

 
§1999-D.__Trust funds

 
Subject to any agreement with the bondholders, all revenue
received from the operation of the East-West Highway after
deducting expenditures required for the construction,
reconstruction, operation and maintenance of the East-West
Highway and for the payment of the principal and the interest on
the bonds of the authority or otherwise in accordance with the
provisions of the authority and after deducting the operating
surplus provided to the department must be held and invested by
the authority to establish trust funds for reserve and sinking
funds for the retirement of bonded indebtedness.

 
§1999-E.__Termination of authority

 
When all bonds and the interest on the bonds are paid or a
sufficient amount for the payment of all bonds and the interest
to maturity on the bonds are set aside in trust for the benefit
of the bondholders and continue to be held for that purpose, and
when sufficient funds are paid to the Maine State Retirement
System to finance in full the accrued benefits for all employees
of the authority, the authority must be dissolved and the East-
West Highway, its leases, rights, easements, franchises, lands
and properties become the property of the State.__The East-West
Highway must thereafter be maintained by the department.__All
machinery, equipment and other property belonging to the
authority appertaining to the maintenance and operation of the
East-West Highway must be vested in the department.__Once the
authority is dissolved, the State may not charge tolls, fares or
fees for use of the East-West Highway.

 
§1999-F.__Penalties

 
1.__Fines; imprisonment. Any violation of published rules
relating to the East-West Highway or its use or services is
deemed a traffic infraction and is punishable by a fine of not
more than $250, except that any person who operates a motor
vehicle at a speed that exceeds, by 30 miles an hour or more, the
speed fixed by the authority is guilty of a misdemeanor and must
be punished by a fine of not less than $50 nor more than $500 or
by imprisonment for not more than 30 days, or by both.__Any
failure or neglect to pay
tolls, fares or charges for use of the


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