| | |
| Sec. 6. Allocations from Highway Fund and General Fund bond issues. The proceeds | | of the sale of the bonds must be expended as designated in the | | following schedule. |
|
| | | TRANSPORTATION, DEPARTMENT OF |
|
| | | Highway and Bridge Improvements | | $13,000,000 |
|
| | | Highway Fund Total | | $13,000,000 |
|
| | | Airport Improvements | | $5,600,000 |
|
| | | Highway and Bridge Improvements | | 29,000,000 |
|
| | | Port and Ferry Improvements | | 9,360,000 |
|
| | | Rail Improvements | | 14,200,000 |
|
| | | Trail Improvements | | 2,000,000 |
|
| | | Transit and Park and Ride Improvements | | 1,840,000 |
|
| | | General Fund Total | | $62,000,000 |
|
| | | Sec. 7. Contingent upon ratification of bond issue. Sections 1 to 6 do not | | become effective unless the people of the State ratify the | | issuance of the bonds as set forth in this Act. |
|
| | | Sec. 8. Appropriation balances at year-end. At the end of each fiscal | | year, all unencumbered appropriation balances representing state | | money carry forward. Bond proceeds that have not been expended | | within 10 years after the date of the sale of the bonds lapse to | | General Fund or Highway Fund debt service. |
|
| | | Sec. 9. Bonds authorized but not issued. Any bonds authorized but not | | issued, or for which bond anticipation notes are not issued | | within 5 years of ratification of this Act, are deauthorized and | | may not be issued, except that the Legislature may, within 2 | | years after the expiration of that 5-year period, extend the | | period for issuing any remaining unissued bonds or bond | | anticipation notes for an additional amount of time not to exceed | | 5 years. |
|
| | | Sec. 10. Referendum for ratification; submission at statewide election; form of | | question; effective date. This Act must be submitted to the legal voters | | of the State at a statewide election held on the Tuesday | | following the first Monday of November following passage of this |
|
|
