§ 23 §1611 — Definitions

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.
1.
Bank.
"Bank" means the Maine Municipal Bond Bank, established under Title 30-A, chapter 225.
2.
GARVEE bond.
"GARVEE bond" means a grant anticipation revenue vehicle debt financing instrument repaid with federal highway funds as authorized by 23 United States Code, Section 122.
3.
Qualified transportation project.
"Qualified transportation project" means a project to reconstruct, rehabilitate or replace existing bridges and existing arterial highways that:
4.
Qualified transportation project costs.
"Qualified transportation project costs" includes, without limitation:
5.
Revenue.
"Revenue" means, in the case of bonds or notes issued by the bank to finance the qualified transportation projects, payment of funds derived from the United States Department of Transportation, Federal Highway Administration and any other investment, gift, grant, contribution, appropriation and income and any other amount pledged to secure payment of such bonds or notes.

Legislative History

PL 2007, c. 329, Pt. P, §1 (NEW).