LD 1020
pg. 5
Page 4 of 18 An Act To Authorize a General Fund Bond Issue To Stimulate Economic Growth and ... Page 6 of 18
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LR 2244
Item 1

 
voters of the State at a statewide election held in June following
passage of this Act. The municipal officers of this State shall
notify the inhabitants of their respective cities, towns and
plantations to meet, in the manner prescribed by law for holding a
statewide election, to vote on the acceptance or rejection of this
Part by voting on the following question:

 
"Do you favor a $78,850,000 bond issue to stimulate economic
growth and job creation through investments in the Maine
economy in anticipation of approximately $148,000,000 in
federal and private funds? The bonds will be used for the
following purposes:

 
1. The sum of $22,000,000 for medical research and
development by Maine-based biomedical research institutions
in anticipation of approximately $100,000,000 in federal and
private funds for health research to cure disease and to
retain Maine graduates by providing high-quality Maine jobs;

 
2. The sum of $850,000 to purchase the property known as
Black Duck Cove on Great Wass Island to serve as the home of
the Downeast Institute for Applied Marine Research and
Education;

 
3. The sum of $9,000,000 for marine research and
development in anticipation of $9,000,000 in federal and
private funding for competitive capital infrastructure
grants to sustain and develop Maine's marine-based economy;

 
4. The sum of $5,000,000 for forestry and agriculture
research and development in anticipation of $5,000,000 in
federal and private funding for competitive grants to
sustain Maine's forestry and agricultural economy;

 
5. The sum of $2,000,000 for the Small Enterprise Growth
Fund for equity investments in small Maine companies with
potential for high growth to leverage private equity
investments;

 
6. The sum of $5,000,000 for the New Century Community
Program for capital improvements to cultural resources;

 
7. The sum of $1,000,000 for sustainable water sources and
irrigation system development to leverage private funds of
at least $800,000;

 
8. The sum of $1,000,000 to replenish the Agricultural
Marketing Loan Fund to support farm business development, to
leverage private funds of at least $600,000;


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