Working in cooperation with the Maine Department of Transportation, the Maine Municipal Bond Bank issues revenue bonds the principal and interest of which are repaid with revenues paid to the State by the Federal Highway Administration. Bond proceeds from the sale of Grant Anticipation Revenue Vehicle bonds are used at the direction of MaineDOT to pay for eligible projects around the State.

    Series 2022 A Projects

    The proceeds of the Series 2022 A Bonds will pay a portion of the costs of 9 projects totaling $50 million consisting of:

    5 Highway Construction/Reconstruction Projects

    • 19.2 miles from Houlton to Dyer Brook on I-95
    • 9.8 miles from Columbia to Jonesboro on Route 1
    • 2.9 miles from Lyman to Gorham on Route 202
    • 6.6 miles from Machias to East Machias on Route 1
    • 15.9 miles from Pittsfield to Fairfield on I-95

     4 Bridge Projects

    • Tuttle Road Bridge over I-295 in Cumberland
    • Route 100 Bridge over I-95 in Palmyra
    • Middle Bridge over the Eastern River in Dresden
    • Ramp SP4 Bridge over I-295 and Route 1 in South Portland

    The Bank’s GARVEE bonds information is available in the Investors section of our website.


    The Maine Municipal Bond Bank is empowered under State law to issue bonds and to provide the bond proceeds to various borrowers, including MaineDOT. The Bond Bank has issued revenue bonds for a number of critical transportation projects under its TransCap and GARVEE resolutions dating back to 2008 and 2004, respectively.

    Maine Department of Transportation

    • Responsible for implementing Maine’s TransCap program
    • State Department with primary responsibility for a statewide transportation system that includes:
      • Nearly 8,300 miles of highway
      • Nearly 3,000 bridges and spans
      • 489 miles of state-owned rail
      • 7 ferry boats and terminals
      • 3 seaports
      • 6 commercial airports

    The Bond Bank’s TransCap bonds information is available in the Investors section of our website.

    You may also visit the MaineDOT page here for additional information.

    TRANSCAP Bridge Funding

    Transcap Projects



    Bridge Replacement: Knickerbocker Bridge# 2438 over the Back River and located 1.70 miles easterly of the Boothbay Harbor town line.

    This project consisted of replacing an eight span timber bridge that was build in 1930 with an eight span, 540 foot long, structure consisting of hybrid-composite (HC) beams and concrete capped pile bent piers. The existing bridge was in poor condition due to deterioration of the timber support pilings. HC beams are an innovative new technology consisting of a fiber reinforced polymer (FRP) shell encapsulating and protecting more conventional steel and concrete bridge materials. HC beams were an ideal solution for this coastal location due to the corrosion protection provided by composite materials.