An Act To Authorize a General Fund Bond Issue in the Amount of $70,000,000 for Municipal Facilities and for Investments in Research, Development, Farming and Affordable Housing in Order To Sustain and Improve Maine's Economy
Maine Legislature, Session 121, LD 1566
Committee: Appropriations and Financial Affairs
Sponsors: RICHARDSON, TURNER, BRANNIGAN, COLWELL, ROSEN, BROMLEY, CATHCART, DAGGETT

Legislative Document 
No. 1566 
H.P.1148 
House of Representatives, April 14,2003 
An Act To Authorize a General Fund Bond Issue in the Amount of 
$70,000,000 for Municipal Facilities and for Investments in 
Research, Development, Farming and Affordable Housing in Order 
To Sustain and Improve Maine's Economy 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
17/~ 
1I1./J?dC~ 
MILLICENT M. MacFARLAND 
Clerk 
Presented by Representative RICHARDSON of Brunswick. (GOVERNOR'S BILL) 
Cosponsored by Senator TURNER of Cumberland and 
Representatives: BRANNIGAN of Portland, Speaker COLWELL of Gardiner, ROSEN of 
Bucksport, Senators: BROMLEY of Cumberland, CATHCART of Penobscot, President 
DAGGETT of Kennebec. 
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 
$70,000,000 
to 
raise 
funds 
for 
recapitalizing the 
Municipal 
Investment 
Trust 
Fund; 
expanding 
research 
and 
development 
facilities in the University of Maine System; supporting marine 
research 
infrastructure 
and 
technology; 
supporting 
Applied 
Technology Development Centers; supporting Maine Farms for the 
Future 
Program; 
funding 
educational 
technology 
improvements; 
supporting biomedical research and development; 
and developing 
affordable housing in Maine 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 in 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 Department of Economic 
and 
Community 
Page l-LR2044(1) 
Development, the University of Maine System, the Department of 
Agriculture, Food and Rural Resources and the Maine State Housing 
Authority. 
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. 
Economic and Community Development, Department of 
Recapitalize the Municipal Investment Trust 
Fund to provide grants and loans to 
municipalities for public facilities 
and infrastructure. 
University of Maine System - University of Maine 
Provide funds for the Technology Innovation 
Center and Advanced Engineered Wood 
Composites Center to expand research 
facilities for engineered wood composite 
structures, including an innovation center 
and business incubation space. 
University of Maine System 
Provide funds for educational technology 
improvements. 
University of Maine System 
Provide funds for the Maine Economic Improvement 
Fund, in anticipation of $12,000,000 in federal 
and other funding, for research and development 
activities. 
University of Maine System - University of 
Southern Maine 
Provide funds to complete, expand and equip 2 
floors of the research wing of the science 
building on the Portland campus. 
Economic and Community Development, Department of 
Provide funds to the Marine Infrastructure and 
Technology Fund, in anticipation of $4,000,000 
in federal and private funding. 
Eligible 
institutions include Maine's private nonprofit 
institutions and state governmental and 
$6,000,000 
$7,500,000 
$3,000,000 
$3,600,000 
$4,900,000 
$4,000,000 
quasi-governmental agencies, excluding 
organizations eligible to participate in 
the programs under the Maine Revised 
Statutes, Title 5, section 13103 and the 
University of Maine System. 
Economic and Community Development, Department of 
Provide funds to the Maine Biomedical Research 
Fund, in anticipation of approximately 
$100,000,000 in federal and private funding, 
to support capital infrastructure and equipment. 
Eligible institutions are those delineated in 
the Maine Revised Statutes, Title 5, section 
13103. 
Economic and Community Development, Department of 
Provide funds to the Applied Technology 
Development Centers for infrastructure 
improvements. 
Agriculture, Food and Rural Resources, 
Department of 
Provide funds to Maine Farms for the Future 
Program. 
Maine State Housing Authority 
Provide funds for affordable housing, 
consistent with the Maine Revised Statutes, 
Title 30-A, section 4347-A, in 
anticipation of $30,000,000 in federal 
and private funding. 
At least $9,000,000 
of the funds will be for workforce 
housing with the balance for other 
multifamily and single-family housing. 
".l'O'rAL ALLOCATICBS 
$25,000,000 
$1,000,000 
$2,000,000 
$13,000,000 
$70,000,000 
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 
within 
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 statewide 
election; form of question; effective date. 
This Act must be submitted 
to the legal voters of the State at a 
statewide election on the 
Tuesday following the first Monday 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 statewide 
election, to vote on the acceptance or rejection of this Act by 
voting on the following question: 
"Do you favor a $70,000,000 bond issue to stimulate economic 
growth and job creation through investments in research and 
the development, 
municipal infrastructure and facilities, 
the 
Maine 
Farms 
for 
the 
Future 
Program 
and 
affordable 
housing, 
in anticipation of approximately $150,000,000 in 
federal and private funds? 
The bonds would be used for the 
following purposes: 
1. 
$6,000,000 
to 
create 
jobs 
and 
reduce 
property 
tax 
burdens by providing grants and loans to municipalities for 
public facilities and infrastructure; 
2. 
$7,500,000 to create jobs and stimulate economic growth 
through 
expanded 
research, 
development, 
technology 
commercialization and business incubation facilities at the 
Advanced Engineered Wood Composites Center at the University 
of Maine; 
3. $3,000,000 to support educational technology improvements 
at the University of Maine System; 
4. 
$3,600,000 in anticipation of $12,000,000 in federal and 
private funding for University of Maine System research and 
development capital activities; 
5. 
$4,900,000 to expand and equip research and development 
facilities at the Portland campus 
of the University of 
Southern Maine; 
6. 
$4,000,000 in anticipation of $4,000,000 in federal and 
private funding for grants to nonprofit marine institutions 
for research and development; 
7. 
$25,000,000 
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; 
8. 
$1,000,000 to support the State's Applied Technology 
Development Centers; 
9. 
$2,000,000 
to 
support 
Maine 
Farms 
for 
the 
Future 
Program; and 
10. 
$13,000,000 in anticipation of $30,000,000 in federal 
and private funds for affordable housing. 
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 purposes of this referendum. 
SUMMARY 
The funds provided by this bond issue, in the amount of 
$70,000,000, will be used for the following purposes: 
1. 
$6,000,000 
to create 
jobs 
and 
reduce 
property tax 
burdens 
by providing grants and 
loans 
to municipalities for 
public facilities and infrastructure; 
2. 
$7,500,000 to create jobs and stimulate economic growth 
through 
expanded 
research, 
development, 
technology 
commercialization 
and 
business 
incubation 
facilities 
at 
the 
Advanced Engineered Wood Composites Center at the University of 
Maine; 
3. 
$3,000,000 
to 
support 
educational 
technology 
improvements at the University of Maine System; 
4. 
$3,600,000 in anticipation of $12,000,000 in federal and 
private funding for University of Maine 
System research and 
development capital activities; 
5. 
$4,900,000 to expand and equip resea~ch and development 
facilities at the Portland campus of the University of Southern 
Maine; 
6. 
$4,000,000 in anticipation of $4,000,000 in federal ar..d 
private funding for grants to nonprofit marine institutions for 
research and development; 
7. 
$25,000,000 
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; 
8. 
$1,000,000 to support the State's Applied Technology 
Development Centers; 
9. 
$2,000,000 
to 
support 
Maine 
Farms 
for 
the 
Future 
Program; and 
10. 
$13,000,000 in anticipation of $30,000,000 in federal 
and private funds for affordable housing.