23 §1983. Interest rate agreements
§1983. Interest rate agreements The authority is authorized to enter from time to time into agreements with another party, on terms and conditions that the authority determines are necessary or convenient, in which the authority agrees to make a payment to, or to receive a payment from, the other party based on a comparison at […]
23 §1967. Property of the authority; eminent domain
§1967. Property of the authority; eminent domain The authority shall hold and acquire property as follows. [PL 1981, c. 595, §3 (NEW).] 1. Property of the authority. All property of the authority and all property held in the name of the State pursuant to the provisions of this chapter are exempt from levy and […]
23 §1968. Issuance of bonds
§1968. Issuance of bonds The authority may issue bonds as follows. [PL 1995, c. 138, §1 (RPR).] 1. Turnpike revenue bonds. In addition to bonds outstanding pursuant to any other provision of this chapter, the authority may provide by resolution from time to time for the issuance of turnpike revenue bonds, including notes or […]
23 §1969. Application of proceeds of bonds or notes in anticipation thereof
§1969. Application of proceeds of bonds or notes in anticipation thereof Bonds shall be applied as follows. [PL 1981, c. 595, §3 (NEW).] 1. Application. All moneys received from any bonds or bond anticipation notes issued pursuant to this chapter shall be applied solely: A. To the payment of the cost of the […]
23 §1970. Bonds; how secured
§1970. Bonds; how secured 1. Trust indentures. In the discretion of the authority, bonds may be secured by a trust indenture by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or outside of the State, or by a loan […]
23 §1971. Exemption from taxes
§1971. Exemption from taxes The accomplishment by the authority of the authorized purpose stated in this chapter being for the benefit of the people of the State and for the improvement of their commerce and prosperity in which accomplishment the authority will be performing essential governmental functions, the authority shall not be required to pay […]
23 §1972. Refunding bonds
§1972. Refunding bonds The authority is authorized to provide by resolution for the issuance of turnpike revenue refunding bonds of the authority, including notes or other obligations defined as bonds under this chapter for the purpose of refunding any bonds then outstanding, including the payment of any redemption premium thereon and any interest accrued or […]
23 §1973. Maintenance of the turnpike
§1973. Maintenance of the turnpike 1. Maintenance and repair. The turnpike shall be maintained and repaired by and under the control of the authority and, at the discretion of the authority, the services of the Department of Transportation, as far as the services are available or expedient, may be utilized for this purpose. All charges […]
23 §1974. Use of turnpike revenues
§1974. Use of turnpike revenues 1. Expenditures. Expenditure of all tolls collected from the Maine Turnpike toll facilities and all other revenues derived from the turnpike operations after the effective date of this chapter shall be limited to the following purposes: A. Maintenance, repair and operation of the turnpike and the establishment of reserves […]
23 §1975. Provisions in case of default on bonds
§1975. Provisions in case of default on bonds Except as may otherwise be provided in a bond resolution or trust indenture or loan or security agreement, in the event that the authority shall default in the payment of principal or interest on any of its bonds after the principal or interest falls due and that […]