| | | Sec. A-3. Sale; how negotiated; proceeds appropriated. The Treasurer of | | State may negotiate the sale of the bonds by direction of the | | Governor, but no bond may be loaned, pledged or hypothecated on | | behalf of the State. The proceeds of the sale of the bonds, | | which must be held by the Treasurer of State and paid by the | | Treasurer of State upon warrants drawn by the State Controller, | | are appropriated solely for the purposes set forth in this Part. | | Any unencumbered balances remaining at the completion of the | | project in this Part lapse to the debt service account | | established for the retirement of these bonds. |
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| | | Sec. A-4. Interest and debt retirement. The Treasurer of State shall pay | | interest due or accruing on any bonds issued under this Part and | | all sums coming due for payment of bonds at maturity. |
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| | | Sec. A-5. Disbursement of bond proceeds. The proceeds of the bonds must | | be expended as set out in this Part under the direction and | | supervision of the Department of Transportation and the | | Department of Public Safety. |
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| | | Sec. A-6. Allocations from Highway Fund and General Fund bond issues. The | | proceeds of the sale of the bonds authorized under this Part must | | be expended as designated in the following schedule. |
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| | | TRANSPORTATION, DEPARTMENT OF |
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| | | Highway and Bridge Improvements | | $13,000,000 |
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| | | Highway Fund Total | | $13,000,000 |
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| | | Airport Improvements | | $3,600,000 |
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| | | Highway and Bridge Improvements | | 29,000,000 |
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| | | Port and Ferry Improvements | | 4,550,000 |
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| | | Rail Improvements | | 7,850,000 |
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| | | Trail Improvements | | 1,250,000 |
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| | | Transit and Park and Ride Improvements | | 1,200,000 |
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| | | General Fund Total | | $47,450,000 |
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| | | PUBLIC SAFETY, DEPARTMENT OF |
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| | | Provides funds to expand the |
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