Sec. Q-5. Transfer of funds. Any funds received as repayment of the principal and interest on outstanding loans originated with funds from the previously authorized Occupational Safety Loan Fund in the Maine Revised Statutes, Title 26, former section 62 must be transferred and be deposited in the Safety Education and Training Fund under Title 26, section 61 and must be used to reduce the annual assessment on workers' compensation insurers and self- insurers.

The remaining amounts in the Occupational Safety Loan Fund may be used only to pay administrative expenses of the Finance Authority of Maine for the administration of outstanding loans originated with proceeds of the Occupational Safety Loan Fund. Upon the repayment of all such outstanding loans, any remaining funds must be deposited in the Safety Education and Training Fund and used to reduce the annual assessment on workers' compensation insurers and self-insurers. In the event there are insufficient funds for all costs of administering the current loans outstanding for the life of such loans, the Department of Labor will provide funding for the costs of administering the loans made with proceeds from the Safety Education and Training Fund.

PART R

Sec. R-1. P&SL 1941, c. 37, §2, 2nd ¶, as amended by P&SL 1969, c. 57, is further amended to read:

The Maine Maritime Academy by action of its board may borrow money, not in excess of $4,000,000 $10,000,000 in the aggregate at any one time outstanding, make and issue negotiable notes, bonds and other evidences of indebtedness or obligations of the academy for the construction of dormitories, dining facilities, student union, and any other buildings and improvements,