Maine Statutes
§ 23 §1853 — State infrastructure bank; finding
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 Act of 1995, Public Law 104-59, Section 350, relating to a state infrastructure bank program will enable the State, counties and municipalities to use federal and state highway funds to construct transportation projects eligible for assistance under Section 350. These funds must be deposited into specific accounts in the department. From these accounts, loans may be made to counties and municipalities for eligible transportation projects.
For purposes of this subchapter, a project is an "eligible transportation pr
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Legislative History
PL 1997, c. 395, §I1 (NEW).
Nearby Sections
15
§ 23 §1801
Findings and purpose§ 23 §1802
Definitions§ 23 §1802-A
Definitions§ 23 §1803
Distribution§ 23 §1803-A
One-time stipend§ 23 §1803-B
Local Road Assistance Program§ 23 §1803-C
Secondary Road Program Fund§ 23 §1805
Permitted use of funds§ 23 §1806
State service contracts§ 23 §1807
Transit bonus payment program§ 23 §1852
Salt and sand storage facilities§ 23 §1853
State infrastructure bank; finding