An Act To Initiate the Process of Terminating the Maine Turnpike Authority
Maine Legislature, Session 128, LD 1617
Committee: Transportation
Sponsors: ESPLING, BRAKEY
Amends: 23 MRSA §1965, 23 MRSA §1968, 23 MRSA §1978

Legislative Document
No. 1617
H.P. 1113
House of Representatives, May 18, 2017
An Act To Initiate the Process of Terminating the Maine Turnpike 
Authority
Reference to the Committee on Transportation suggested and ordered printed.
ROBERT B. HUNT
Clerk
Presented by Representative ESPLING of New Gloucester.  (GOVERNOR'S BILL)
Cosponsored by Senator BRAKEY of Androscoggin.
Be it enacted by the People of the State of Maine as follows: 
Sec. 1.  23 MRSA §1965, sub-§1, ¶¶M and N, as enacted by PL 1981, c. 595, 
§3, are amended to read: 
M.  Borrow Until October 15, 2017, borrow money, make, issue and sell at public or 
private sale negotiable notes, bonds and other evidences of indebtedness or 
obligations of the authority for the purposes set forth in this chapter and secure the 
payment of that obligation or any part thereof by pledge of all or any part of the 
operating revenues of the turnpike; 
N.  Enter Until October 15, 2017, enter into loan or security agreements with one or 
more lending institutions, including, but not limited to, banks, insurance companies 
and pension funds, or trustees for those institutions for purposes for which bonds may 
be issued and to exercise with respect to such loan or security agreements all of the 
powers delineated in this chapter for the issuances of bonds; 
Sec. 2.  23 MRSA §1968, sub-§4 is enacted to read: 
4.  Prohibition on issuance of bonds.  The authority may not issue any bonds after 
October 15, 2017. 
Sec. 3.  23 MRSA §1978, as enacted by PL 1981, c. 595, §3, is amended to read: 
§1978.  Termination of the authority 
The authority shall not be dissolved until such time as is dissolved on October 15, 
2028.  The authority shall ensure that: 
1.  Legislature provide for termination.  The Legislature shall provide for its 
termination; and 
2.  Payment of debt, bonds, premiums and interest.  All No later than October 15, 
2027, all bonds, the premium, if any, and the interest thereon shall have been paid or a 
sufficient amount for the payment of all bonds and the interest to maturity or prior 
redemption date thereon shall have has been irrevocably set aside in trust for the benefit 
of the bondholders. and all debts of the authority have been paid; and 
3.  Legislation.  No later than November 1, 2027, the authority submits for 
introduction to the Second Regular Session of the 132nd Legislature a bill to transfer all 
of the duties, responsibilities and assets of the authority to the department and to provide 
for the sale of all unnecessary equipment, buildings and property owned by the authority 
and the removal of all the toll facilities on the turnpike, with the exception of the York 
toll facility. 
Sec. 4.  Submission of plan to Department of Transportation.  No later than 
April 1, 2018, the Maine Turnpike Authority shall provide to the Department of 
Transportation a plan to accomplish the requirements set forth in this Act. 
SUMMARY 
This bill: 
1.  Prohibits the Maine Turnpike Authority from issuing any bonds after October 15, 
2017; 
2.  Requires the Maine Turnpike Authority, no later than October 15, 2027, to set 
aside sufficient funds in trust to pay all its bonds and debts or to pay all its bonds and 
debts; 
3.  Requires the Maine Turnpike Authority, no later than April 1, 2018, to provide to 
the Department of Transportation a plan to accomplish the payment of outstanding debt 
held by the authority; and 
4.  Requires the Maine Turnpike Authority, no later than November 1, 2027, to 
submit for introduction to the Second Regular Session of the 132nd Legislature a bill to 
transfer all of the duties, responsibilities and assets of the authority to the department and 
to provide for the sale of all unnecessary equipment, buildings and property owned by the 
authority and the removal of all the toll facilities on the turnpike, with the exception of 
the York toll facility.