Resolve, Authorizing the Commissioner of Administrative and Financial Services To Sell or Lease the Interests of the State in Certain Real Estate Located in Hallowell
Maine Legislature, Session 121, LD 1465
Senate Amendment SA_A_S311 (Senate)

SENATE 
AMENDMENT "A" to H.P. 
1070, L.D. 
1465, 
"Resolve, 
Authorizing 
the 
Commissioner 
of Administrative 
and 
Financial 
Services To Sell or Lease the Interests of the State in Certain 
Real Estate Located in Hallowell" 
Amend the resolve by striking out the title and substituting 
the following: 
'Res01ve, 
Authorizing the Commissioner of Administrative and 
Financial Services To Sell or Lease the Interests of the State in 
Certain Real Estate Located in Hallowell and To Enter into 
Lease-purchase Agreements for School Bus Acquisition' 
Further amend the resolve by inserting after the title and 
before section 1 the following: 'PART A' 
Further amend the resolve by inserting after section 8 the 
following: 
'PARTB 
Sec. 
B-1. 
Lease-purchase 
authorization. 
Resolved: 
That 
notwithstanding the Maine 
Revised Statutes, Title 
5, 
S-.- cion 
1587, the Conunissioner of Administrative and Financial Services 
on 
behalf 
of 
the 
Department 
of 
Education 
may 
enter 
into 
lease-purchase 
contracts 
or 
other 
financing 
arrangements 
in 
fiscal years 2003-04 and 2004-05 for the acquisition of school 
buses to replace 43 Carpenter buses that must be removed from 
service for safety reasons. 
The financing agreements may not 
exceed 7 years in duration and $2,500,000 in principal costs. 
The interest rate may not exceed 6% and the total interest costs 
may not exceed $595,000. 
The annual principal and interest costs 
must be paid from the appropriate line-category allocations in 
the Department of Education.' 
Page l-LR1989(4) 
SENATE AMENDMENT 
\: ';", 
' -',i. 
SENATE AMENDMENT .. A .. to H.P. 1070, L.D. 1465 
Further amend the resolve by relettering or renumbering any 
nonconsecutive 
Part 
letter 
or 
section 
number 
to 
read 
consecutively. 
SUMMARY 
This amendment authorizes the Commissioner of Administrative 
and Financial Services, on behalf of the Department of Education, 
to 
enter 
into 
lease-purchase 
contracts 
or 
other 
financing 
arrangements in fiscal years 2003-04 and 2004-05 for acquisition 
of school buses. 
This is to replace 43 buses that must be 
removed 
from service for safety reasons. 
Financing may not 
exceed 7 years in duration and $2,500,000 in principal costs. 
Interest rates may not exceed 6%. 
SPONSORED BY: l~lli.:J 
(Senator CATHCART) 
COUNTY: 
Penobscot 
t· iSC-\L \OTE REQURED 
(See attached) 
SENATE AMENDMENT 
Fiscal Detail and Notes 
Approved: 06112/03 frac:. 
Office of Fiscal and Program Review 
LD 1465 
Resolve, Authorizing the Commissioner of Administrative and Financial 
Services To Sell or Lease the Interests of the State in Certain Real Estate 
Located in Hallowell 
LR 1989(04) 
Fiscal Note for Senate Amendment 14, S -3 11 
Sponsor: Sen. Cathcart 
Fiscal Note Required: Yes 
Fiscal Note 
This amendment authorizes the Commissioner of the Department of Administrative and Financial Services to enter 
into lease-purchase contracts or other financial arrangements to purchase 43 school buses that must be replaced for 
safety reasons. The local school units will pay lease payments and receive reimbursement through the General 
Purpose Aid for Local Schools subsidy. The State's share of the annual principal and interest costs will be paid by the 
Department of Education utilizing funds allocated for transportation costs within the General Purpose Aid for Local 
Schools program. This amendment is not expected to significantly increase or decrease costs to the General Purpose 
Aid for Local Schools program. 
LR1989(4) - Fiscal Note - Page 1 of 1