An Act To Authorize Bond Issues for Ratification by the Voters at the November 2003 Election Further amend the amendment by striking out all of Parts A to C and inserting in their place the following: PART A Sec. A-I. 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 $62,500,000 to raise funds to match available federal funds for the purposes described in section 6 of this Part. 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. A-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. Page I-LR2068(IS) SENATE AMENDMENT
Maine Legislature, Session 121, LD 1572
Committee Amendment CA_A-SA_H_S333 (Senate)

SENATE 
AMENDMENT 
"/~" to COMMITTEE 
AMENDMENT 
If A" to S • P. 
531, 
L.D. 
1572, 
Bill, 
"An 
Act 
To 
Authorize 
Department 
of 
Transportation Bond Issues in the 
Amount of 
$75,000,000 for 
Improvements to Highways; Bridges; Airports; State-owned Ferry 
Vessels; Ferry and Port Facilities; Port and Harbor Structures; 
Development 
of 
Rail 
Corridors; 
Improvements 
to 
Railroad 
Structures 
and 
Intermodal 
Facilities; 
Inves'tment 
in 
Public 
Transportation Fleet 
and 
Public 
Park 
and 
Ride 
and 
Service 
Facilities; and Statewide Trail and Pedestrian Improvements" 
Amend the amendment by striking out the substitute title and 
replacing it with the following: 
'An Act To Authorize Bond Issues for Ratification by the Voters 
at the November 2003 Election' 
Further amend the amendment by striking out all of Parts A 
to C and inserting in their place the following: 
'PART A 
Sec. A-I. 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 
$62,500,000 to raise funds to match available federal funds for 
the purposes described in section 6 of this Part. 
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. A-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. 
Page I-LR2068(IS) 
SENATE AMENDMENT 
SEl9'ATE 
AMENDMENT "1-/,, to COMMITTEE AMENDMENT "A" to S.P. 531, 
L.D. 1572 
Sec. A·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 Part. 
Any unencumbered balances remaining at the completion 
of the project in this Part lapse to the debt service account 
established for the retirement of these bonds. 
Sec. A-4. Interest and debt retirement. 
The Treasurer of State 
shall pay interest due or accruing on any bonds issued under this 
Part and all sums coming due for payment of bonds at maturity. 
Sec. A·5. Disbursement of bond proceeds. 
The proceeds of the 
bonds must be expended as set out in this Part under 
the 
direction and supervision of the Department of Transportation. 
Sec. A·6. Allocations from Highway Fund and General Fund bond 
issues. 
The proceeds of the sale of the bonds authorized under 
this Part must 
be 
expended 
as 
designated in the 
following 
schedule., 
TRANSPORTATION, DEPARTMEH7 OF 
Biqhway Fund 
Highway and Bridge Improvements 
Highway Fund Total 
General Fund 
Airport Improvements 
Highway and Bridge Improvements 
Port and Ferry Improvements 
Rail Improvements 
Trail Improvements 
Transit and Park and Ride Improvements 
General Fund Total 
$13,000,000 
$13,000,000 
$3,600,000 
31,000,000 
4,550,000 
8,050,000 
1,100,000 
1,200,000 
$49,506,000 
Sec. A·7. Contingent upon ratification of bond issue. 
Sections 1 
to 6 of this Part do not become effective unless the people of 
the State ratify the issuance of the bonds as set forth in this 
Part. 
SENATE AMENDMENT 
~,. 
~ 
SENATE AMENDMENT "R " to COMMITTEE AMENDMENT 
" A" to S • P • 531, 
L.D. 1572 
Sec. A-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 or Highway Fund debt service. 
Sec. A-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 
Part, 
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 per iod for issuing any remaining unissued bonds or 
bond anticipation notes for an additional amount of time not to 
exceed 5 years. 
Sec. A-tO. Referendum for ratification; submission at statewide 
election; form of question; effective date. 
This Part 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 Part by voting on the following question: 
"Do you favor a $62,500,000 bond issue for improvements to 
highways and bridges, airports, state-owned ferry vessels 
and 
ferry 
and 
port 
facili ties 
and 
port 
and 
harbor 
structures; development of rail corridors and improvements 
to railroad structures and intermodal facilities; investment 
in the statewide public transportation fleet and public park 
and ride and service facilities; and statewide trail and 
pedestrian improvements that makes the State eligible for 
$214,000,000 in matching federal funds?" 
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, 
c.ounted 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 
th~ returns and, if a majority of the legal votes are cast in 
favor of this Part, 
the Governor shall proclaim the result 
without delay, and this Part 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 
Part necessary to carry out the purposes of this referendum.' 
SENATE AMENDMENT 
~.'. 
SENATE AMENDMENT .. U" to COMMITTEE AMENDMENT "A" to S . P. 
L.D. 1572 
531, 
Further amend the amendment by relettering or renumbering 
any 
nonconsecutive 
Part 
letter 
or 
section 
number 
to 
read 
consecutively. 
SUMMARY 
This 
amendment 
strikes out Parts 
A to 
C of 
Committee 
Am~ndment "A" and replaces them with language that authorizes the 
issuance of bonds in the amount of $62, SOO, 000 to be used for 
highways and bridges, airports, 
state-owned ferry vessels and 
ferry 
and port facilities 
and 
port 
and 
harbor 
structures; 
development 
of 
rail 
corridors 
and 
improvements 
to 
railroad 
structures and intermodal facilities; investment in the statewide 
public transportation fleet and public park and ride and service 
facilities; and statewide trail and pedestrian improvements. 
SPONSORED BY, (J 
LV':l-Lwv-
(Senator TURNER) 
COUNTY: 
Cumberland 
FISCAL ~on: REQllRED 
(See attached) 
SENATE AMENDMENT 
Fiscal Detail and Notes 
Approved: 08/20/03 ;Jk?ae 
Office of Fiscal and Program Review 
LD 1572 
An Act To Authorize Bond Issues for Ratification by the Voters at the 
November 2003 Election 
LR2068(15) 
Fiscal Note for Senate Amendment 'U' to Committee Amendment "An 
Sponsor: Sen. Turner 
Fiscal Note Required: Yes 
Fiscal Note 
This amendment reduces the amount of bonds authorized by $31,300,000 to a new total of $62,500,000. All non-
transportation bonds are eliminated and the transportation bonds are increased by $1,700,000. The net change is 
expressed below. 
Bond Issues 
General Fund - Non-taxable 
Term(years) 
Principal 
($31,300,000) 
Rate(%) 
4.1% 
LR2068(lS) - Fiscal Note - Page 1 of 1 
Interest 
($7,058,150) 
Total Cost 
($38,358,150)