Sec. 1. 4 MRSA §1610-A, as enacted by PL 1997, c. 752, §2, is amended to read:

§1610-A. Additional securities

Notwithstanding any limitation on the amount of securities that may be issued pursuant to section 1606, subsection 2, the authority may issue additional securities in an amount not to exceed $85,000,000 $102,400,000 outstanding at any one time for correctional facilities.

Sec. 2. Maine Governmental Facilities Authority; resolution for issuance of securities. Pursuant to the Maine Revised Statutes, Title 4, section 1606, subsection 2, the Maine Governmental Facilities Authority is authorized to issue securities in its own name in an amount up to $17,400,000 for the purpose of paying the costs associated with the correctional facility construction project located in Washington County to replace the Downeast Correctional Facility existing on the effective date of this Act.

Sec. 3. Allocation. The proceeds from the sale of the securities issued by the Maine Governmental Facilities Authority pursuant to this Act must be expended as follows:

Correctional Facility Construction $17,400,000

in Washington County

SUMMARY

This bill authorizes the Maine Governmental Facilities Authority to issue securities in an amount up to $17,400,000 for construction of a replacement for the Downeast Correctional Facility in Washington County.