An Act To Authorize a General Fund Bond Issue in the Amount of $20,000,000 for Capital Projects and Major Maintenance at State and Municipal Parks and Historic Sites, for Acquiring Land for Coastal and Inland Waterway Access and for Capitalizing a Revolving Loan Fund for Land Trusts and Municipalities To Acquire Land and Conservation Easements for Public Access
Maine Legislature, Session 121, LD 1292
Committee: Appropriations and Financial Affairs
Sponsors: DAGGETT, HALL, COLWELL, CATHCART, DAVIS, MARTIN, BUNKER, EARLE, KOFFMAN, LERMAN

Legislative Document 
No. 1292 
S.P.423 
In Senate, March 11, 2003 
An Act To Authorize a General Fund Bond Issue in the Amount of 
$20,000,000 for Capital Projects and Major Maintenance at State 
and Municipal Parks and Historic Sites, for Acquiring Land for 
Coastal and Inland Waterway Access and for Capitalizing a 
Revolving Loan Fund for Land Trusts and Municipalities To 
Acquire Land and Conservation Easements for Public Access 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
Presented by President DAGGETT of Kennebec. 
JOY J. O'BRIEN 
Secretary of the Senate 
Cosponsored by Senator HALL of Lincoln, Speaker COLWELL of Gardiner and 
Senators: CATHCART of Penobscot, DAVIS of Piscataquis, MARTIN of Aroostook, 
Representatives: BUNKER of Kossuth Township, EARLE of Damariscotta, KOFFMAN of 
Bar Harbor, LERMAN of Augusta. 
Printed on recyc led paper 
Preamble. 
Two 
thirds of both Houses 
deeming it necessary in accordance with 
Maine, Article IX, Section 14 to authorize 
on behalf of the State of Maine to provide 
this Act, 
of the Legislature 
the Constitution of 
the issuance of bonds 
funds as described in 
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 
$20,000,000 to raise funds for capital improvements and major 
maintenance at state parks and historic sites, 
for providing 
matching 
funds 
for significant capital projects at municipal 
parks, for acquiring land for coastal and inland waterway access 
and for capitalizing a revolving loan fund for land trusts and 
municipalities to acquire land and conservation easements for 
public access 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 
Commissioner of Conservation and the 
Executive Department. 
Page l-LR0296(1) 
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. 
CONSERVATION, DEPARTMENT OF 
To make capital improvements 
and conduct major maintenance at state 
parks and historic sites and to provide 
matching funds for significant capital 
projects at municipal parks, including 
$1,800,000 for construction and 
development of a living memorial in 
Capitol Park. 
EXECUTIVE DEPARTMENT 
To acquire land for coastal 
and inland waterway access. 
To establish a new revolving 
loan fund to make low-interest 
loans available to land trusts 
and municipalities to acquire 
$11,000,000 
$4,000,000 
$5,000,000 
land and conservation easements. 
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, wi thin 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 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 $20,000,000 bond issue for the following 
purposes: 
1. 
Eleven million dollars to make capital improvements and 
conduct major maintenance at state parks and historic sites 
and provide matching funds for significant capital projects 
at municipal parks; 
2. 
Four million dollars to acquire land for coastal and 
inland waterway access; and 
3. 
Five million dollars to establish a new revolving loan 
fund to make low-interest loans available to land trusts and 
municipalities to acquire land and conservation easements?" 
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 
$20,000,000, 
will 
be 
used 
to 
make 
capital 
improvements 
and 
conduct major maintenance at state parks and historic sites, to 
acquire 
land for 
coastal 
and 
inland waterway access 
and 
to 
capitalize 
a 
revolving 
loan 
fund 
for 
land 
trusts 
and 
municipalities to acquire land and conservation easements for 
public access.