LD 375
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LR 1868
Item 1

 
other allocation made by the Legislature for the Maine Turnpike
Authority that at any time is not required for the purpose named in
the allocation or subdivision may be transferred at any time prior
to the closing of the books to any other allocation or subdivision
of any other allocation made by the Legislature for the use of the
Maine Turnpike Authority for the same calendar year subject to
review by the joint standing committee of the Legislature having
jurisdiction over transportation matters. Financial statements
describing the transfer, other than a transfer from "General
Contingency," must be submitted by the Maine Turnpike Authority to
the Office of Fiscal and Program Review 30 days before the transfer
is to be implemented. In case of extraordinary emergency
transfers, the 30-day prior submission requirement may be waived by
vote of the committee. These financial statements must include
information specifying the accounts that are affected, amounts to
be transferred, a description of the transfer and a detailed
explanation as to why the transfer is needed.

 
Sec. 3. Encumbered balance at year-end. At the end of each calendar
year, encumbered balances may be carried to the next calendar
year.

 
Sec. 4. Supplemental information. As required by the Maine Revised
Statutes, Title 23, section 1961, subsection 6, the following
statement of the revenues in 2006 that are necessary for capital
expenditures and reserves and to meet the requirements of any
resolution authorizing bonds of the Maine Turnpike Authority
during 2006, including debt service and the maintenance of
reserves for debt service and reserve maintenance, is submitted.

 
Turnpike Revenue Bond Resolution

 
Adopted April 18, 1991; Issuance

 
of Bonds Authorized Pursuant to

 
the Maine Revised Statutes,

 
Title 23, section 1968,

 
subsections 1 and 2.

 
2006

 
Debt Service Fund$21,882,842

 
Reserve Maintenance Fund16,000,000

 
General Reserve Fund, to be

 
applied as follows:

 
Capital Improvements9,063,449


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