§1961. Legislative findings; cooperation with the Department of Transportation; bonds; governmental function 1. Legislative findings. The Legislature makes the following findings of fact. The economic and social well-being of the citizens of the State requires that the transportation system be developed in a comprehensive manner and depends upon the safety, efficiency and modern functional state […]
§1962. Preservation of rights No provision of this chapter may impair the rights of existing bondholders or of any other persons to whom the authority owes contractual obligations. [PL 1981, c. 595, §3 (NEW).] SECTION HISTORY PL 1981, c. 595, §3 (NEW).
§1963. Maine Turnpike Authority In order to carry out the purposes of this chapter, the Maine Turnpike Authority, created by Private and Special Law 1941, chapter 69, continues in existence with the powers and duties prescribed by this chapter until the Legislature provides for its termination and all outstanding indebtedness of the authority is repaid, […]
§1964-A. Board of directors The authority is managed by a board of 7 members. Except for the member from the department who serves ex officio, all members are appointed by the Governor subject to review by the joint standing committee of the Legislature having jurisdiction over transportation matters and to confirmation by the Senate. […]
§1964. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1981, c. 595, §3 (NEW).] 1. Access roads. “Access roads” means any and all roads or highways in the state highway system, including bridges, overpasses and underpasses, which directly or indirectly connect with the […]
§1965-A. Widening of the turnpike between Exit 1 and Exit 6-A (REPEALED) SECTION HISTORY PL 1995, c. 341, §2 (NEW). PL 1995, c. 613, §3 (AMD). PL 1997, c. 493, §A2 (AMD). PL 1997, c. 493, §A3 (AFF). PL 2015, c. 5, §5 (RP).
§1965-B. Widening of the turnpike between mile marker 44 and mile marker 53 1. Evaluation of reasonable alternatives. The authority shall complete an evaluation of reasonable alternatives to widening the turnpike to 3 lanes for each direction of travel in the corridor from mile marker 44 to mile marker 53. To evaluate reasonable alternatives, the […]
§1965-C. Construction of a connector to Gorham 1. Evaluation of reasonable alternatives. The authority and the department shall evaluate reasonable alternatives to the building of a connector to Gorham in Cumberland County from Route 114 in South Gorham to an interchange on the turnpike by completing an alternative mode feasibility study. The authority in […]
§1965. Maine Turnpike Authority; powers 1. Powers. The Maine Turnpike Authority, as created by Private and Special Law 1941, chapter 69 and as authorized by Title 5, section 12004-F, subsection 4, is and continues to be a body both corporate and politic in the State and may: A. Sue and be sued; [PL […]
§1966. Obligations of the authority The authority shall operate as follows. [PL 1981, c. 595, §3 (NEW).] 1. General. All expenses incurred in carrying out this chapter shall be paid solely from funds provided under the authority of this chapter, and no liability or obligation may be incurred under this chapter beyond the extent […]
§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 […]
§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 […]
§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 […]
§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 […]
§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 […]
§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 […]
§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 […]
§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 […]
§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 […]
§1976. Interim certificates Prior to the issuance of any bonds, the authority may issue interim certificates in such manner and with such conditions as the authority may determine to be exchanged for the bonds when issued. [PL 1981, c. 595, §3 (NEW).] SECTION HISTORY PL 1981, c. 595, §3 (NEW).
