CHAPTER 55
S.P. 736 - L.D. 2047
An Act to Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 2003
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, 2003 must be segregated, apportioned and disbursed as designated in the following schedule.
2003
MAINE TURNPIKE AUTHORITY
Administration
Personal Services $638,940
All Other 993,225
____________
TOTAL 1,632,165
Accounts and Controls
Personal Services 580,923
All Other 265,799
____________
TOTAL 846,722
Highway Maintenance
Personal Services 3,265,540
All Other 2,050,730
____________
TOTAL 5,316,270
Equipment Maintenance
Personal Services 788,660
All Other 1,099,965
____________
TOTAL 1,888,625
Fare Collection
Personal Services 9,338,549
All Other 3,702,901
____________
TOTAL 13,041,450
Public Safety and Special Services
Personal Services 342,050
All Other 4,767,371
____________
TOTAL 5,109,421
Building Maintenance
Personal Services 549,799
All Other 487,640
____________
TOTAL 1,037,439
Subtotal of Line Items _________
Budgeted 28,872,092
General Contingency -
5% of line items budgeted for 2003
(10% allowed) 1,443,605
MAINE TURNPIKE AUTHORITY ____________
TOTAL REVENUE FUNDS $30,315,697
Sec. 2. Transfer of allocations. Any balance of an 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 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 2003 that are necessary for capital expenditures and reserves and to meet the requirements of any resolution authorizing bonds of the Maine Turnpike Authority during 2003, including debt service and the maintenance of reserves for debt service and reserve maintenance, is submitted.
2003
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.
Debt Service Fund $17,346,390
Reserve Maintenance Fund 16,000,000
General Reserve Fund, to be applied as follows:
Capital Improvements 448,867
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. 2,466,060
____________
TOTAL $36,261,317
Effective July 25, 2002, unless otherwise indicated.
| Revisor of Statutes Homepage | Subject Index | Search | Laws of Maine | Maine Legislature |
