CHAPTER 73
S.P. 785 - L.D. 2130
An Act to Authorize a General Fund Bond Issue in the Amount of $34,970,000 to Stimulate Job Growth in Maine, to Renovate Certain State Facilities and to Promote Homeland Security and Tourism
Preamble. Two thirds of both Houses of the Legislature deeming it necessary in accordance with the Constitution of Maine, Article IX, Section 14 to authorize the issuance of bonds on behalf of the State of Maine to provide funds for capitalizing the Maine Rural Development Authority and the Municipal Investment Trust Fund, renovation of infrastructure at the Schoodic Education and Research Center and the recapitalization of the Economic Recovery Loan Program and the Regional Economic Development Revolving Loan Program; to construct 2 facilities to support Maine businesses through product development and testing; to provide funds for biomedical research and development equipment and infrastructure; to provide assistance in planning the construction of the Franco-American Heritage Center at St. Mary's in Lewiston; to assist the Moosehead Marine Museum in the renovation of its flagship, the Katahdin, including repairs to its deck; to renovate the Center Theater, Inc. in downtown Dover-Foxcroft and promote tourism in Piscataquis County; and to improve homeland security in Maine.
Be it enacted by the People of the State of Maine as follows:
Sec. 1. Authorization of bonds to provide for the Municipal Investment Trust Fund, recapitalization of the Economic Recovery Loan Program and the Regional Economic Development Revolving Loan Program; to provide funds for the protection of the lives and property of Maine citizens; to provide for the capitalizing of the Maine Rural Development Authority; to renovate infrastructure at the Schoodic Education and Research Center; to construct 2 facilities to support Maine businesses through product development and testing; to provide funds for biomedical research and development equipment and infrastructure; to provide assistance in the planning and construction of the Franco-American Heritage Center at St. Mary's in Lewiston; to assist the Moosehead Marine Museum in the renovation of its flagship, the Katahdin, including repairs to its deck; and to renovate the Center Theater, Inc. in downtown Dover-Foxcroft and promote tourism in Piscataquis County. The Treasurer of State is authorized, under the direction of the Governor, to issue bonds in the name and on behalf of the State in an amount not exceeding $34,970,000 to raise funds for capitalizing the Municipal Investment Trust Fund, recapitalization of the Economic Recovery Loan Program and the Regional Economic Development Revolving Loan Program; to provide funds for the protection of the lives and property of Maine citizens; to capitalize the Maine Rural Development Authority; to renovate infrastructure at the Schoodic Education and Research Center; to construct 2 facilities to support Maine businesses through product development and testing; to raise funds for biomedical research and development equipment and infrastructure; to provide assistance in the planning and construction of the Franco-American Heritage Center at St. Mary's in Lewiston; to assist the Moosehead Marine Museum in the renovation of its flagship, the Katahdin, including repairs to its deck; and to renovate the Center Theater, Inc. in downtown Dover-Foxcroft and promote tourism in Piscataquis County as authorized by section 6. The bonds are a pledge of the full faith and credit of the State. The bonds may not run for a period longer than 10 years from the date of the original issue of the bonds. At the discretion of the Treasurer of State, with the approval of the Governor, any issuance of bonds may contain a call feature.
Sec. 2. Records of bonds issued to be kept by Treasurer of State. The Treasurer of State shall keep an account of each bond showing the number of the bond, the name of the successful bidder to whom sold, the amount received for the bond, the date of sale and the date when payable.
Sec. 3. Sale; how negotiated; proceeds appropriated. The Treasurer of State may negotiate the sale of the bonds by direction of the Governor, but no bond may be loaned, pledged or hypothecated on behalf of the State. The proceeds of the sale of the bonds, which must be held by the Treasurer of State and paid by the Treasurer of State upon warrants drawn by the State Controller, are appropriated solely for the purposes set forth in this Act. Any unencumbered balances remaining at the completion of the projects in section 6 lapse to the debt service account established for the retirement of these bonds.
Sec. 4. Interest and debt retirement. The Treasurer of State shall pay interest due or accruing on any bonds issued under this Act and all sums coming due for payment of bonds at maturity.
Sec. 5. Disbursement of bond proceeds. The proceeds of the bonds must be expended as set out in section 6 under the direction and supervision of the Department of Economic and Community Development, the Finance Authority of Maine, the Commissioner of Defense, Veterans and Emergency Management, the Commissioner of Administrative and Financial Services, the Maine Rural Development Authority and the University of Maine System.
Sec. 6. Allocations from General Fund bond issue; to capitalize the Municipal Investment Trust Fund and the Maine Rural Development Authority and to recapitalize the Economic Recovery Loan Program and the Regional Economic Development Revolving Loan Program; to provide funds for the protection of the lives and property of Maine citizens; to renovate infrastructure at the Schoodic Education and Research Center; to construct product development and testing facilities; to support biomedical research; and to support culture and promote tourism. The proceeds of the sale of the bonds must be expended as designated in the following schedule.
ECONOMIC AND COMMUNITY DEVELOPMENT, DEPARTMENT OF
Capitalization of the Municipal $4,000,000
Investment Trust Fund to provide
loans and grants to municipalities for
public infrastructure to support
economic development and other
purposes of the fund.
FINANCE AUTHORITY OF MAINE
Recapitalization of the Economic 4,000,000
Recovery Loan Program.
FINANCE AUTHORITY OF MAINE
Recapitalization of the Regional 4,000,000
Economic Development Revolving
Loan Program.
DEFENSE, VETERANS AND EMERGENCY MANAGEMENT, DEPARTMENT OF
To protect the lives and property of 540,000
Maine's citizens by improving response
capability through a computerized
emergency notification system in the
Maine Drinking Water Program and
improving security at court facilities.
MAINE RURAL DEVELOPMENT AUTHORITY
Capitalization of the Maine Rural 6,000,000
Development Authority to implement
the Community Industrial Building
Program and the Commercial
Facilities Development
and Redevelopment Program.
ECONOMIC AND COMMUNITY DEVELOPMENT, DEPARTMENT OF
Renovation of buildings and associated 400,000
infrastructure for the development of the
Schoodic Education and Research Center
to match $4,000,000 in federal funding.
UNIVERSITY OF MAINE SYSTEM - UNIVERSITY OF MAINE
Construction of a facility for product 5,000,000
development and support to help solve
manufacturing and engineering problems.
The product development and testing
centers of the university system will be
utilized to assist companies in product
development and product testing only.
They will not compete with applied
technology development centers by
leasing space in their centers; rather,
they will only bring a company's
specific product to be developed or
tested into the centers. The product
development and testing centers of the
university will outreach to all 7 applied
technology development centers and
collaborate on initiatives of mutual interest.
UNIVERSITY OF MAINE SYSTEM - UNIVERSITY OF SOUTHERN MAINE
Construction of a facility for product 4,000,000
development and support to help solve
manufacturing and engineering problems.
The product development and testing
centers of the university system will be
utilized to assist companies in product
development and product testing only.
They will not compete with applied
technology development centers by
leasing space in their centers; rather,
they will only bring a company's
specific product to be developed or
tested into the centers. The product
development and testing centers of the
university will outreach to all 7 applied
technology development centers and
collaborate on initiatives of mutual interest.
ECONOMIC AND COMMUNITY DEVELOPMENT, DEPARTMENT OF
Provides funds for the Maine 5,500,000
Biomedical Research Fund, to
support capital infrastructure and
equipment. Eligible institutions are
those delineated in the Maine Revised
Statutes, Title 5, section 13103.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Provides funds to provide assistance 1,000,000
in the planning and construction of
the Franco-American Heritage Center at
St. Mary's in Lewiston to promote the
academic, economic, social and cultural
heritage of Franco-Americans in the State.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Provides funds to assist the Moosehead 30,000
Marine Museum in the renovation of its
flagship, the Katahdin, including repairs
to its deck.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Provides funds to the Center Theater, 500,000
Inc. to renovate the Center Theater in
downtown Dover-Foxcroft and to
promote tourism, the arts and culture
and economic growth in Piscataquis
County.
_____________
TOTAL ALLOCATIONS $34,970,000
Sec. 7. Contingent upon ratification of bond issue. Sections 1 to 6 do not become effective unless the people of the State have ratified the issuance of the bonds as set forth in this Act.
Sec. 8. Appropriation balances at year-end. At the end of each fiscal year, all unencumbered appropriation balances representing state money carry forward. Bond proceeds that have not been expended within 10 years after the date of the sale of the bonds lapse to General Fund debt service.
Sec. 9. Bonds authorized but not issued. Any bonds authorized but not issued, or for which bond anticipation notes are not issued within 5 years of ratification of this Act, are deauthorized and may not be issued; except that the Legislature may, within 2 years after the expiration of that 5-year period, extend the period for issuing any remaining unissued bonds or bond anticipation notes for an additional amount of time not to exceed 5 years.
Sec. 10. Referendum for ratification; submission at primary election; form of question; effective date. This Act must be submitted to the legal voters of the State of Maine at the next primary election in the month of 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 general election, to vote on the acceptance or rejection of this Act by voting on the following question:
"Do you favor a $34,970,000 bond issue to stimulate job growth, renovate buildings, defend against terrorism in Maine and promote tourism? The bonds would be used for the following purposes:
1. Funds of $4,000,000 for the Municipal Investment Trust Fund to provide loans and grants to municipalities for public infrastructure to support economic development and other purposes of the fund;
2. Funds of $8,000,000 to the Finance Authority of Maine to create and retain Maine jobs through the funding of community, regional and state business financing programs;
3. Funds of $540,000 for the protection of the lives and property of Maine citizens;
4. Funds of $6,000,000 to capitalize the Maine Rural Development Authority to facilitate job creation through the development and redevelopment of commercial and industrial buildings in Maine;
5. Funds of $400,000 for renovation of buildings and associated infrastructure at the Schoodic Education and Research Center. State bond funds will match $4,000,000 in federal funds;
6. Funds of $5,000,000 for the construction of a facility for product development and support that will provide the University of Maine with the resources needed to help solve daily manufacturing and engineering problems;
7. Funds of $4,000,000 for the construction of a facility for product development and support that will provide the University of Southern Maine with the resources needed to help solve daily manufacturing and engineering problems;
8. Funds of $5,500,000 for medical research and development by Maine-based biomedical research institutions in order to obtain matching federal funds for health research to cure disease and to retain Maine graduates by providing quality Maine jobs;
9. Funds of $1,000,000 for the planning and construction of the Franco-American Heritage Center at St. Mary's in Lewiston;
10. Funds of $30,000 to assist the Moosehead Marine Museum in the renovation of its flagship, the Katahdin; and
11. Funds of $500,000 for the renovation of the Center Theater in downtown Dover-Foxcroft."
The legal voters of each city, town and plantation shall vote by ballot on this question and designate their choice by a cross or check mark placed within a corresponding square below the word "Yes" or "No." The ballots must be received, sorted, counted and declared in open ward, town and plantation meetings and returns made to the Secretary of State in the same manner as votes for members of the Legislature. The Governor shall review the returns and, if a majority of the legal votes are cast in favor of this Act, the Governor shall proclaim the result without delay, and this Act becomes effective 30 days after the date of the proclamation.
The Secretary of State shall prepare and furnish to each city, town and plantation all ballots, returns and copies of this Act necessary to carry out the purpose of this referendum.
Effective pending referendum.
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