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other suit, action or proceeding at law or in equity, enforce all | | rights of such bondholders, including the right to require the bank | | to collect payments and other amounts and to collect interest and | | amortization payments under agreements payable to the bank and | | pledged to payment of such bonds, adequate to carry out any | | agreement as to, or pledge of, those payments and other amounts and | | of such interest and amortization payments and to require the bank | | to carry out any other agreements with the bondholders and to | | perform its duties under this Act. |
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| | | Sec. 5. Appropriations and allocations. The following appropriations and | | allocations are made. |
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| | | TRANSPORTATION, DEPARTMENT OF |
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| | | Initiative: Provides for the allocation of additional Personal | | Services, All Other and Capital Expenditures funding to support | | the Waldo-Hancock Bridge project. |
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| | | Other Special Revenue Funds | 2003-04 | 2004-05 |
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| | | Personal Services | $0 | $2,000,000 |
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| | | Capital Expenditures | 0 | 40,000,000 |
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| | | Other Special Revenue Funds Total | $0 | $50,000,000 |
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| | | This bill authorizes the use of federal Grant Anticipation | | Revenue Vehicles, or GARVEE, financing in the amount of up to | | $50,000,000 to fund projects associated with the Waldo-Hancock | | Bridge replacement. The GARVEE bonds will be issued by the Maine | | Municipal Bond Bank and will be repaid solely from future federal | | transportation funding apportioned to the State from the Federal | | Highway Administration and any matching funds of the State. The | | GARVEE bonds do not constitute a debt or liability of the State | | or a pledge of its full faith and credit. |
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