Title 23, Title 23

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2007, c. 329, Pt. P, §1 (NEW).] 1. Bank. "Bank" means the Maine Municipal Bond Bank, established under Title 30-A, chapter 225. 2. GARVEE bond. "GARVEE bond" m…

Notwithstanding any other provision of law, upon certification, the bank may issue from time to time GARVEE bonds for qualified transportation projects and qualified transportation project costs in such amounts as are authorized by the Legislature by a 2/3 vote in each House of t…

1. Issuance. The bank shall issue GARVEE bonds from time to time pursuant to a resolution adopted by the bank. The GARVEE bonds issued must be secured pursuant to a pledge and certificate issued by the Department of Transportation and approved by the State Budget Officer. The ple…

The powers and duties of the bank provided under Title 30-A, chapter 225 are modified and supplemented as set out in this section. [PL 2007, c. 329, Pt. P, §1 (NEW).] 1. Qualified transportation projects. The bank may assist the State by borrowing money to finance or refinance fr…

The Department of Transportation may transfer, assign or pledge any or all of the funds paid to it, directly or indirectly, by the United States Department of Transportation, Federal Highway Administration with respect to the qualified transportation projects. Any such pledge doe…

Every contract relating to the issuance of bonds or notes to finance all or a part of the costs of qualified transportation projects must provide that all financial obligations of the State or of any agency or department of the State in regard to the portion of the principal of a…

1. Transportation projects. The Department of Transportation, and all other agencies or departments of the State working in conjunction with the Department of Transportation, for the purpose of aiding and cooperating in the financing, construction, operation or maintenance of qua…

Notwithstanding Title 30‑A, section 5958, the bank may make loans to the State or any agency or department of the State in connection with the financing of qualified transportation projects. Notwithstanding Title 30‑A, section 6003, the bank may issue its bonds from time to time …

The Treasurer of State may receive from the Federal Government any amount of money as appropriated, allocated, granted, turned over or in any way provided for the purposes of this subchapter. In connection with the financing of qualified transportation projects, these amounts mus…

In addition to all other rights or remedies set forth in Title 30-A, section 6023, subsection 2, the trustee appointed pursuant to Title 30-A, section 6023 may, and upon written request of the holders of 25% in principal amount of all bonds then outstanding that have been issued …

To provide funds for the construction of state, state aid and town ways, for the maintenance of state and state aid highways, and interstate, intrastate and international bridges, and for other items of expenditure specified, there is established a fund to be known as the General…

Unexpended balances of the Highway Fund that have been set up for general construction and maintenance of highways and bridges and for purchasing, operating, maintaining, improving, repairing, constructing and managing the assets of multimodal forms of transportation, including, …

All revenue received by the State from the registration of motor vehicles and the licensing of operators thereof, from the tax imposed on internal combustion engine fuel, from fines, forfeitures and costs accruing to the State under Title 29-A, section 2602, and from permits gran…

At the close of each fiscal year, the State Controller shall transfer amounts exceeding $100,000 from the unallocated balance in the Highway Fund to the Department of Transportation Highway and Bridge Capital; Highway Light Capital; Maintenance and Operations; and Multimodal Tran…

Municipal transportation assistance funds must be targeted to the needs of rural local roads, bridges and minor spans and must also reflect urban compact maintenance responsibilities on state and state aid roadways. [PL 2025, c. 66, §2 (AMD).] Municipal transportation assistance …

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1989, c. 516, §2 (NEW).] 1. Average lane miles maintained. 1-A. Capital improvement. "Capital improvement" means any work on a road or bridge that has a life e…

1. Distribution and use of funds. Funds from the Local Road Assistance Program must be distributed to each eligible municipality, county or Indian reservation through rural road assistance and urban compact assistance funding as follows. A. Rural road assistance funds must be dis…

To be eligible to receive funds from the Local Road Assistance Program, each municipality, county or Indian reservation shall, prior to November 1st each year, certify in a manner acceptable to the department that the funds are used in a manner consistent with this chapter.

The department may enter into service contracts with municipalities to perform at cost maintenance, reconstruction or construction functions on local service roads. To the extent state manpower and equipment permits, the department shall encourage municipalities to coordinate the…

The Department of Transportation may administer funds for the construction of municipal or county salt and sand storage facilities in order to reduce salt pollution of ground and surface waters. In administering these funds, the department shall provide reimbursement to municipal…

The legislature finds that new financing mechanisms are necessary to provide greater flexibility and additional funds for needed transportation infrastructure projects in the State. The creation of a financing mechanism, in conformance with the National Highway System Designation…

The state infrastructure bank is created as a revolving fund in the department, to be administered by the department and used for the purposes described in this subchapter. The fund consists of certain federal highway funds and state highway funds and other funds eligible for dep…

The Commissioner of Transportation shall use the state infrastructure bank to make loans to counties and municipalities, state agencies and quasi-state government agencies upon such terms as the commissioner shall determine, including secured and unsecured loans, and in connectio…