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| | | An Act to Authorize Department of Transportation Bond Issues |
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| | | in the Amount of $61,000,000 to Match Available Federal |
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| | | Funds for Improvements to Highways and Bridges, Airports, |
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| | | Public Transit and Ferry Facilities; Development of Rail, |
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| | | Trail and Marine Infrastructure; and Improvements to |
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| | | Intermodal Facilities Statewide |
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| | | Preamble. Two thirds of both Houses of the Legislature deeming | | it necessary in accordance with the Constitution of Maine, | | Article IX, Section 14 to authorize the issuance of bonds on | | behalf of the State of Maine to provide funds to match available | | federal funds for improvements to highways and bridges, airports | | and ferry facilities; development of rail, trail and marine | | infrastructure; and improvements to intermodal facilities | | statewide. |
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| | | Be it enacted by the People of the State of Maine as follows: |
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| | | Sec. 1. Authorization of bonds to provide for improvements to highways and bridges, | | airports, public transit and ferry facilities; development of rail, trail and marine | | infrastructure; and improvements to intermodal facilities statewide. The Treasurer | | of State is authorized, under the direction of the Governor, to | | issue bonds in the name and on behalf of the State in an amount | | not exceeding $61,000,000 to raise funds to match available | | federal funds for improvements to highways and bridges, airports, | | public transit and ferry facilities; development of rail, trail | | and marine infrastructure; and improvements to intermodal | | facilities statewide as authorized by section 6. The bonds are a | | pledge of the full faith and credit of the State. The bonds may | | not run for a period longer than 10 years from the date of the | | original issue of the bonds. At the discretion of |
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