Sec. 1. P&SL 1951, c. 114, §8, first sentence, as amended by P&SL 1985, c. 48, §1, is further amended to read:

To procure funds for the purposes of this Act, and for such other expenses as may be necessary to carry out those purposes, the district, by its trustees, is authorized from time to time to borrow money and to issue its bonds and notes therefor for the money, but shall not incur a total indebtedness exceeding the sum of $1,000,000 $2,000,000 at any one time outstanding.

Sec. 2. Referendum. This Act must be submitted to the legal voters of the Veazie Sewer District at the annual district meeting in 2000 or 2001, or at a special district meeting to be called and held for the purpose within 365 days of the approval of this Act. If the vote is held at a special district meeting, that special district meeting must be called, advertised and conducted according to the law relating to municipal elections, except that the registrar of voters is not required to prepare for posting, nor the town clerk to post, a new list of voters and for the purpose of registration of voters the board of voter registration must be in session on the secular day next preceding the special election. The town clerk of the town shall prepare the required ballots, on which the clerk shall reduce the subject matter of this Act to the following question:

"Shall the debt limit of the Veazie Sewer District be increased to $2,000,000?"

The voters shall indicate by a cross or check mark placed against the words "Yes" or "No" their opinion of the same.

The result of the vote must be declared by the municipal officers of the Town of Veazie, and due certificate must be filed by the town clerk with the Secretary of State.

SUMMARY

This bill increases the debt limit of the Veazie Sewer District from $1,000,000 to $2,000,000 subject to referendum.