An Act To Authorize a General Fund Bond Issue in the Amount of $5,800,000 To Adequately Fund the Applied Technology Development Centers in Order To Increase the Number of Research and Development Jobs and Companies in the State
Maine Legislature, Session 121, LD 1052
Committee: Business, Research and Economic Development
Sponsors: FINCH, CATHCART, MARRACHE, MILLS, PATRICK, ROSEN, THOMAS, BROMLEY, GAGNON, HALL

Legislative Document 
No. 1052 
H.P.769 
House of Representatives, February 26,2003 
An Act To Authorize a General Fund Bond Issue in the Amount of 
$5,800,000 To Adequately Fund the Applied Technology 
Development Centers in Order To Increase the Number of Research 
and Development Jobs and Companies in the State 
Reference to the Committee on Business, Research and Economic Development suggested 
and ordered printed. 
Presented by Representative FINCH of Fairfield. 
Cosponsored by Senator CATHCART of Penobscot and 
1l/~/J7.~ 
MILLICENT M. MacFARLAND 
Clerk 
Representatives: MARRACHE of Waterville, MILLS of Com ville, PATRICK of Rumford, 
ROSEN of Bucksport, THOMAS of Orono, Senators: BROMLEY of Cumberland, GAGNON 
of Kennebec, HALL of Lincoln. 
Printed on recycled paper 
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 as described in 
this Act. 
Be it enacted by the People of the State of Maine as follows: 
Sec. 1. Authorization of bonds. 
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 
$5,800,000 
to raise funds 
for applied technology development 
centers as authorized by this Act. 
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 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 project 
~n this Act 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 this Act under the direction 
and supervision of the Commissioner of Economic and Community 
Development. 
Sec. 6. Allocations from General Fund bond issue. 
The proceeds 
of the sale of the bonds must be expended as designated in the 
following schedule. 
Page l-LR1l42(1) 
ECONOMIC AND COMMUNITY DEVELOPMENT, 
DEPARTMENT OF 
To fully fund those applied technology 
development centers, in accordance with the 
Maine Revised Statutes, Title 5, section 
15321, that have outstanding debt service 
costs resulting from building costs, 
including construction, renovation and 
purchase; and to provide funds to ensure 
that each center has televideo conferencing 
capability, as follows: 
Target Applied Technology Development 
Center, Orono 
Environmental Science Applied Technology 
Development Center, South Portland 
River Valley Applied Technology Development 
Center Rumford 
Composites Applied Technology Development 
Center, Greenville 
Marine and Aquaculture Applied Technology 
Development Center, Orono 
Teague Biotechnology Center of Maine, 
Fairfield 
Televideo conferencing capability 
ECONOMIC AND COMMUNITY DEVELOPMENT, 
DEPARTMENT OF 
TOTAL 
$600,000 
600,000 
600,000 
L 000, 000 
500,000 
2,000,000 
500,000 
$5,800,000 
Sec. 7. Contingent upon ratification of bond issue. 
Sections 1 to 
do not become effective unless the people of the State ratify 
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 
wi thin 
years 
of 
ratification 
of 
this 
Act, 
are 
deauthorized 
and 
may not be 
years after 
period 
for 
anticipation 
years. 
issued, except that the Legislature may, within 2 
the expiration of that 5-year period, 
extend the 
issuing 
any 
rema~n~ng 
unissued 
bonds 
or 
bond 
notes for an additional amount of time not to exceed 
Sec. 10. 
Referendum for ratification; submission at statewide 
election; form of question: effective date. 
This Act must be submitted 
to the legal voters of the State at a statewide election held on 
the Tuesday following the first Monday of November 
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 Act by voting on the following question: 
"Do you favor a $5,800, 000 bond issue to fund the applied 
technology 
development 
centers 
to 
lower 
the 
costs 
for 
start-up companies 
in high-technology industries, 
and 
to 
ensure that the applied technology development centers have 
televideo conferencing capabilities?" 
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 wi thin 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. 
SUMMARY 
The funds provided by 
$5,800, 000, 
will 
be 
used 
this 
to 
bond 
fund 
issue, in the 
the 
applied 
amount of 
technology 
development centers to lower the costs for start-up companies in 
high-technology 
industries, 
and 
to 
ensure 
that 
the 
applied 
technology 
development 
centers 
have 
televideo 
conferencing 
capabilities.