2006-07 2006-07

LOCAL STATE

Local and State Contributions to the

Total Cost of Funding Public Education

from Kindergarten to Grade 12

Local and state contributions to

the total cost of funding public

education from kindergarten to

grade 12 pursuant to the Maine

Revised Statutes, Title 20-A,

section 15683 $783,076,345 $914,098,222

Sec. J-8. Limit of State's obligation. If the State's continued obligation for any individual component contained in section 6 and section 7 of this Part exceeds the level of funding provided for that component, any unexpended balances occurring in other programs may be applied to avoid proration of payments for any individual component. Any unexpended balances from sections 6 and 7 of this Part may not lapse but must be carried forward for the same purpose.

Sec. J-9. Authorization of payments. Sections 2, 3, 5, 6 and 7 of this Part may not be construed to require the State to provide payments that exceed the appropriation of funds for General Purpose Aid for Local Schools for the fiscal year beginning July 1, 2006 and ending June 30, 2007.

Sec. J-10. Lease-purchase authorization; Maine Learning Technology Initiative. Pursuant to the Maine Revised Statutes, Title 5, section 1587, the Department of Administrative and Financial Services on behalf of the Department of Education may enter into financing arrangements in fiscal year 2006-07 for the acquisition of portable computer systems to support the operations of the Maine Learning Technology Initiative program. The financing agreements may not exceed 4 years in duration and $37,025,160 in principal costs for the Maine Learning Technology Initiative program. The interest rate may not exceed 7%, and the total interest costs may not exceed $2,786,884. The annual principal and interest costs must be paid from the appropriate line category allocations in