E. The sum of $120,000,000 consisting of not more than $100,000,000 for loans and up to $20,000,000 for use of bond proceeds to fund capital reserve funds for revenue obligation securities issued pursuant to this subchapter relating to loans for paper industry job retention projects.; and

F.__The sum of $100,000,000 consisting of not more than $85,000,000 for loans and up to $15,000,000 for use of bond proceeds to fund capital reserve funds for revenue obligation securities issued pursuant to this subchapter relating to loans for transmission facilities projects.

The amount of revenue obligation securities issued to refund securities previously issued may not be taken into account in determining the principal amount of securities outstanding, as long as proceeds of the refunding securities are applied as promptly as possible to the refunding of the previously issued securities. In computing the total amount of revenue obligation securities of the authority that may at any time be outstanding for any purpose, the amounts of the outstanding revenue obligation securities that have been issued as capital appreciation bonds or as similar instruments are valued as of any date of calculation at their then current accreted value rather than their face value.

Sec. 2. 10 MRSA §9202, sub-§1, as enacted by PL 1999, c. 513, §6, is amended to read:

1. Establishment and purpose. The Northern Maine Transmission Corporation is established as a body corporate and politic and public instrumentality of the State. The corporation is a special purpose corporation formed and managed as a subsidiary of the authority. The exercise by the corporation of the powers conferred by this chapter shall be is deemed the performance of essential public functions. The purpose of the corporation is to examine the need for and viability of and, in its discretion, to finance, permit, construct, own and in whole or in part, operate electric transmission lines necessary to connect electric utilities, or to otherwise facilitate the transmission of natural gas and generation, production and transfer of any other energy resources in the northern region of the State with the transmission grid of the United States in a manner adequate, in the opinion of the authority, to allow customers