LD 604
pg. 2
Page 1 of 2 An Act To Allow the Maine Turnpike Authority To Benefit from Advantageous Inter... LD 604 Title Page
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LR 1356
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from, the other party based on a comparison at a future date
between an interest rate specified on the date of the agreement
and a rate derived on or about that future date from an interest
rate index.__The authority is authorized to enter into any
credit enhancement or liquidity agreement on terms and
conditions that the authority determines are necessary or
convenient for carrying out this section.

 
Emergency clause. In view of the emergency cited in the
preamble, this Act takes effect when approved.

 
SUMMARY

 
The bill authorizes the Maine Turnpike Authority to enter
into agreements at one time that may provide a subsequent
advantage to the authority based on future interest rates.
The bill also provides a temporary extension of the
authority's bonding capacity for the year 2003 that will
enable it to perform refinancing.

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