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| | | SECTION TOTAL - ALL FUNDS | | $118,620 |
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| | | Sec. C-1. Lease-purchase authorization; Department of Administrative and Financial | | Services. Pursuant to the Maine Revised Statutes, Title 5, | | section 1587, the Department of Administrative and Financial | | Services on behalf of the Department of the Secretary of State | | may enter into financing arrangements for the acquisition of | | software and systems for a motor vehicle database and computer | | system to support the operations of the Department of the | | Secretary of State as approved in Public Law 2001, chapter | | 361, section 35. The financing agreements may not exceed 5 | | years in duration and $6,500,000 in principal costs. The | | interest rate may not exceed 5% and the total interest costs | | may not exceed $977,000. The annual principal and interest | | costs must be paid from the appropriate line category | | allocations in the Department of the Secretary of State. |
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| | | Sec. C-2. Lease-purchase authorized for vans, buses and other transportation vehicles | | involved with public transit. Pursuant to the Maine Revised Statutes, | | Title 5, section 1587, the Department of Transportation, | | Special Revenue Fund, is authorized to establish lease- | | purchase contracts for the procurement of vans, buses and | | other transportation vehicles. The term of the contracts may | | not be more than 8 years. The outstanding principal debt may | | not exceed $1,000,000. The interest rate may not exceed 8% | | and outstanding debt for interest may not exceed $240,000. |
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| | | Sec. D-1. PL 1997, c. 674, Pt. C, §§2 and 3, as amended by PL 1999, c. 737, | | Pt. E, §1, are further amended to read: |
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| | | Sec.* C-2. Amended lease-purchase authorized for engineering vehicles or equipment. | | Pursuant to the Maine Revised Statutes, Title 5, section 1587, | | the Department of Transportation, Highway Fund, is authorized | | to establish lease-purchase contracts for the procurement of | | engineering vehicles or equipment. The term of the contracts | may not be more than 7 years. The cumulative total principal | value |
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