Section 1974 - Use of turnpike revenues1.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 required therefor including, without limitations, reserves required or permitted by the resolutions authorizing the issuance of bonds or by the trust indentures relating to those bonds, and including any costs specially incurred by the Department of Transportation or any other state agency in connection with the operation of the turnpike; [1981, c. 595, §3(NEW).]B. Payment of the cost of any debt incurred by the authority, including, but not limited to, payment of interest and principal on any bonds issued by the authority and payment into any sinking funds required by subsection 2; [1981, c. 595, §3(NEW).]C. Construction or reconstruction to improve the turnpike to meet greater traffic demands or improve safety of operation, including reserves therefor, as authorized in paragraph E, except that the traveled way shall not be widened or expanded beyond the limits set forth in section 1965, subsection 1, paragraph D without the express approval of the Legislature; [1987, c. 457, §6(AMD).]D. Maintenance, construction or reconstruction of access roads, or portions thereof, where the authority has made the determinations required by subsection 4; [1981, c. 595, §3(NEW).]E. Payments to reserve or sinking funds established by the authority to meet anticipated future costs of constructing or reconstructing designated interchanges or portions thereof submitted by the department, or to accomplish other designated purposes for which the authority is authorized to issue bonds, provided that the funding for those projects financed from reserves, together with the estimated future costs thereof, have been approved by the authority; [1987, c. 457, §6(AMD).]F. Repayment to the Federal Government for grants or loans that were used in connection with the construction or reconstruction of any portion of the turnpike or of any interconnecting access roads, but only to the extent that the repayment is required in order for the authority to maintain or establish tolls on the turnpike; and [1993, c. 410, Pt. MM, §9(AMD).]G. Payment or repayment to the Federal Government or any agency of the Federal Government of any charges, taxes or other payments required by law in connection with the construction, reconstruction or operation of the turnpike or the financing or refinancing of the turnpike or any part of the turnpike. [1987, c. 457, §7(NEW).] [1993, c. 410, Pt. MM, §9(AMD).]
2.Sinking fund for payment of bonds. The tolls and all other revenues derived from the turnpike, except such part thereof as may be required to pay the cost of maintaining, repairing and operating the turnpike and to provide such reserves therefor as may be provided for in a resolution authorizing the issuance of the bonds or in the related trust indenture or loan or other security agreement, shall be set aside at such regular intervals as may be provided in the resolution or trust indenture or loan or other security agreement, in a sinking fund which is pledged to, and charged with, the payment of: A. The interest upon those bonds as that interest falls due; [1981, c. 595, §3(NEW).]B. The principal of the bonds as that principal falls due; [1981, c. 595, §3(NEW).]C. The necessary fiscal agency charges for paying principal and interest; and [1981, c. 595, §3(NEW).]D. Any premiums upon bonds retired by call or purchase as provided in this subsection. [1981, c. 595, §3(NEW).] The use and disposition of the sinking fund shall be subject to such rules as may be provided in the resolution authorizing the issuance of bonds or in the related trust indenture or loan or other security agreement, but, except as may otherwise be provided in that resolution or trust indenture or loan or other security agreement, the sinking fund shall be a fund for the benefit of all bonds issued under this subsection without distinction or priority of one over another. Subject to the provisions of the resolution authorizing the issuance of bonds or of the trust indenture or loan or other security agreement, any moneys in the sinking fund in excess of an amount equal to one year's interest on all bonds then outstanding may be applied to the purchase or redemption of bonds. All bonds so purchased or redeemed shall immediately be canceled and shall not again be issued.
[1981, c. 595, §3(NEW).]
3.Revenues for additional interchanges.[2015, c. 5, §8(RP).]
4.Revenues for access roads and the state highway system.[1993, c. 680, Pt. A, §26(RP).]
5.Payment for State Police services on the Maine Turnpike. Payment for State Police services on the Maine Turnpike shall be as follows. A. The authority shall assume all costs incurred by the State Police in enforcing the rules of the authority, and in providing for the safety of the public traveling on the turnpike, provided that the authority has authorized the provision of those services by the State Police, and provided also that the services of any State Police personnel whose costs are so assumed shall be utilized only for turnpike-related activities, except in the event of emergency. [1981, c. 595, §3(NEW).]B. The Chief of the State Police shall submit monthly statements of costs incurred in connection with the turnpike, and the authority shall pay the amount of those costs to the Treasurer of State within 20 days of receipt of the monthly statement. The Treasurer of State shall credit those payments proportionately to the Highway Fund and the General Fund. [1981, c. 595, §3(NEW).]C. Prior to December 1st of each year, the Chief of the State Police shall file a report with the authority containing the following information with respect to the level of State Police services required in the following fiscal year to adequately enforce the rules of the authority and to adequately provide for the safety of the public traveling on the turnpike: (1) The estimated level of personnel required for turnpike duty calculated according to the assignment of that personnel by shift;(2) Monthly and annual estimates of the cost of personnel required for turnpike duty;(3) The estimated number of vehicles and amount of equipment required for turnpike duty, including a schedule of anticipated replacement needs;(4) Annual estimates of the cost of vehicles and equipment required for turnpike duty; and(5) Any other information which will aid the authority in determining the required level of State Police services and the cost thereof. [1981, c. 595, §3(NEW).]D. The authority shall review the information provided in the annual report of the Chief of the State Police and shall authorize the provision of such patrol and other services as it shall deem necessary to enforce its rules and to provide for the safety of the public traveling on the turnpike. [1981, c. 595, §3(NEW).] [1981, c. 595, §3(NEW).]
6.Revenues to secure special obligation bonds for department projects; determination of project eligibility for funding. Subject to the terms and conditions of this chapter, the authority may authorize turnpike revenues to be transferred to a trustee or agent designated by the authority and that trustee or agent shall hold these revenues in trust to secure or to be applied to the payment of obligations issued pursuant to section 1968, subsection 2-A and as provided for in a resolution authorizing the issuance of these bonds or in a related trust indenture or loan or other security agreement. The Department of Transportation shall provide the authority with a list of proposed department projects and any other information requested by the authority and relating to a project on the list. The Department of Transportation and the authority shall determine department projects that are eligible for funding with proceeds from bonds authorized by section 1968, subsection 2-A. In making this determination, the department and the authority may consider the following factors:
A. The existing access roads and the state highway system; [1995, c. 504, Pt. C, §7(NEW).]B. The traffic impact of the maintenance, construction or reconstruction on the existing road network; [1995, c. 504, Pt. C, §7(NEW).]C. The total cost of the state highway system; [1995, c. 504, Pt. C, §7(NEW).]D. The probable change in departmental expenditures resulting from maintenance, construction or reconstruction of the project; [1995, c. 504, Pt. C, §7(NEW).]E. The relative number of vehicles using or expected to use the project on the way to or from the turnpike; [1995, c. 504, Pt. C, §7(NEW).]F. The road distance or average road distance of the project or portions of the project from the nearest entrance to or exit from the turnpike; [1995, c. 504, Pt. C, §7(NEW).]G. The effect that maintenance, construction or reconstruction will have on the flow of traffic to, from and on the turnpike and in diverting vehicular traffic off or away from the turnpike; [1995, c. 504, Pt. C, §7(NEW).]H. The proportionate usage of the state highway system by vehicles using the turnpike and vehicles not using the turnpike; [1995, c. 504, Pt. C, §7(NEW).]I. Vehicle classification and travel characteristics; [1995, c. 504, Pt. C, §7(NEW).]J. Origins and destinations of trips; [1995, c. 504, Pt. C, §7(NEW).]K. Fuel type and consumption; [1995, c. 504, Pt. C, §7(NEW).]L. Existing sources of revenue; and [1995, c. 504, Pt. C, §7(NEW).]M. Any other factors considered relevant, including, but not limited to, expert opinion. [1995, c. 504, Pt. C, §7(NEW).] [2011, c. 302, §15(AMD).]
Amended by 2015, c. 5,§ 8, eff. 10/15/2015.Amended by 2011, c. 302,§ 15, eff. 6/10/2011.1981, c. 595, § 3 (NEW) . 1981, c. 698, §§103-105 (AMD) . 1987, c. 457, §§6,7 (AMD) . 1987, c. 793, §A8 (AMD) . IB 1991, c. 1, § 8 (AMD) . 1991, c. 9, §§E16,17 (AMD) . 1993, c. 410, §MM9 (AMD) . 1993, c. 680, §A26 (AMD) . 1995, c. 504, §C7 (AMD) .