An Act To Provide Funding for Infrastructure for a New Downtown in the Town of Canton
Maine Legislature, Session 122, LD 2120
Committee Amendment CA_B_S706 (Senate)

COMMITTEE AMENDMENT ,,6, to S.P. 865, L.D. 2120, Bill, "An Act To Provide 
Funding for Infrastructure for a New Downtown in the Town of Canton" 
Amend the bill by striking out the title and substituting the following: 
'An Act To Authorize a General Fund Bond Issue in the Amount of 
$4,000,000 for Flood Damage Relief' 
Further amend the bill by striking out everything after the title and before the 
summary and inserting in its place the following: 
'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 $4,000,000 for the purposes described in section 6 of 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 
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the date when payable. 
COMMITTEE AMENDMENT 
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COMMITTEE AMENDMENT ~, to S.P. 865, L.D. 2120 
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 
Defense, Veterans and Emergency Management, Maine Emergency Management 
Agency. 
Sec. 6. Allocations from General Fund bond issue. The proceeds of the sale 
of the bonds authorized under this Act must be expended as designated in the following 
schedule. 
DEFENSE, VETERANS AND EMERGENCY MANAGEMENT, DEPARTMENT 
OF 
Maine Emergency Management Agency 
Provides funds for the State's share of costs 
associated with the flood damage that occurred 
in spring 2005 and spring 2006 and for the 
relocation ofthe downtown area ofthe Town of 
Canton outside of the flood zone, including, but 
not limited to, such infrastructure as water and 
sewer lines. 
$4,000,000 
Sec. 7. Contingent upon ratification of bond issue. Sections 1 to 6 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 5 years of ratification of this 
Act, are de authorized 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. 
COMMITTEE AMENDMENT 
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COMMITTEE AMENDMENT '!J' to S.P. 865, L.D. 2120 
Sec. 10. Referendum for ratification; submission at general election; 
form of question; effective date. This Act must be submitted to the legal voters of 
the State at the next general election in the month 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 
general election, to vote on the acceptance or rejection of this Act by voting on the 
following question: 
"Do you favor a $4,000,000 bond issue for the State's share of costs 
associated with the flood damage that occurred in spring 2005 and spring 
2006 and for the relocation of the downtown area of the Town of Canton 
outside of the flood zone, including, but not limited to, such 
infrastructure as water and sewer lines?" 
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 
This amendment is the minority report of the Joint Standing Committee on 
Appropriations and Financial Affairs. This amendment replaces the bill with a General 
Fund bond issue in the amount of $4,000,000 to provide funding for the State's share of 
costs associated with the flood damage that occurred in spring 2005 and spring 2006 and 
for the relocation of the downtown area of the Town of Canton outside of the flood zone, 
including, but not limited to, such infrastructure as water and sewer lines. 
FISCAL -,un: REQCIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 05/24/06 ~ae 
LD 2120 
LR 3300(03) 
An Act to Provide Funding for Infrastructure for a New Downtown in the Town of Canton 
Bond Issues 
Fiscal Note for Bill as Amended by Committee Amendment f3 " 
Committee: Appropriations and Financial Affairs 
Fiscal Note Required: Yes 
Minority Report 
Fiscal Note 
Current biennium cost increase - General Fund 
General Fund - Non-taxable 
Term(years) 
Principal 
$4,000,000 
Rate (%) 
5.0% 
Interest 
$1,100,000 
Referendum Costs 
MonthlY ear 
Election Type Question Type Question Length 
Nov-06 
General 
Referendum 
Standard 
Total Cost 
$5,100,000 
The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general 
election in November. If the number or size of the referendum questions increases the ballot length, an additional 
appropriation of $8,000 or more may be required. 
LR3300(3) - Fiscal Note - Page 1 of 1