2005 Maine Code - §1821 — State aid for arterial and major collector highway capital projects

Municipalities may choose to participate in the arterial and major collector highway capital projects program created under this section. Participating municipalities shall have a department-approved transportation plan for state and state aid highways and comply with policies and procedures adopted by the Department of Transportation. The plan must identify those capital improvements needed to remove or mitigate substandard conditions. A participating municipality may finance improvement projects from the approved plan in either of the following ways: [2005, c. 643, §2 (new).]

1. State and municipal investments. Following authorization of the transportation improvement project by the Commissioner of Transportation and within 2 years of a mutual agreement between the municipality and the Department of Transportation and a financial commitment by the municipality, the Treasurer of State shall make a deposit of Highway Fund revenues and General Fund revenues, each fund amount equal to the municipal contribution, into a Maine Municipal Bond Bank trust account opened in the name of the municipality. The contributions of local funds may not exceed the product of $226 multiplied by the passenger car equivalents at peak hour for traffic movement permits issued under section 704-A for that municipality in the prior year. Except for the Highway Fund contributions, money deposited in the account may be used for utility and storm water improvements related to the transportation improvement project; or[2005, c. 643, §2 (new).]
2. State, municipal and private investments. Following authorization of the transportation improvement project by the Commissioner of Transportation and within 2 years of a mutual agreement between the municipality and the Department of Transportation, the Treasurer of State shall make a deposit of Highway Fund revenues equal to the municipal contribution into a Maine Municipal Bond Bank trust account opened in the name of the municipality. The contributions of local funds may not exceed the projected level of private investment in transportation improvements within the plan area required under section 704-A.[2005, c. 643, §2 (new).]

This section does not relieve the Department of Transportation of its obligation to make improvements to state and state aid highways without municipal participation. [2005, c. 643, §2 (new).]

Section History:

PL 2005, Ch. 643, §2 (NEW).

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