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 $104,000,000 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, chapter 33, the Maine Governmental Facilities Authority is authorized to issue securities in its own name in an amount up to $19,000,000 for the purpose of paying the cost associated with the correctional facilities construction project located in Washington County.

SUMMARY

This bill authorizes the Maine Governmental Facilities Authority to issue securities in an amount up to $19,000,000 for the purpose of building a prison in Washington County.