Resolve, Reauthorizing the Balance of the 1999 Land for Maine's Future Bond Issue
Maine Legislature, Session 122, LD 1693
Committee: Appropriations and Financial Affairs
Sponsors: RICHARDSON, EDMONDS

Legislative Document 
No. 1693 
H.P.1204 
House of Representatives, July 29,2005 
Resolve, Reauthorizing the Balance of the 1999 Land for Maine's 
Future Bond Issue 
Approved for introduction by a majority of the Legislative Council pursuant to Joint Rule 
203. 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
Presented by Speaker RICHARDSON of Brunswick. 
Cosponsored by President EDMONDS of Cumberland. 
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MILLICENT M. MacFARLAND 
Clerk 
Preamble. Whereas, the Treasurer of State may not sell the 
remaining $4,530,000 in bonds authorized but not yet issued from 
the $50,000,000 Land for Maine's Future bond issue authorized by 
the voters 
in 
1999 
unless 
the 
Legislature 
reauthorizes 
the 
issuance of those bonds; and 
Whereas, the Land for Maine's Future Board requires this 
$4,530,000 
in bonds 
to 
meet 
its obligations 
for 
previously 
authorized land conservation projects with state, municipal and 
private entities and to fulfill its obligations under the Maine 
Revised Statutes, Title 5, chapter 353 in order to protect public 
recreational opportunities, threatened farmland and the State's 
environment; now, therefore, be it 
Sec. 1. Extension for issuing. Resolved: 
That, pursuant to the 
provisions of the Constitution of Maine, Article IX, Section 14, 
the period for issuance of bonds or of bond anticipation notes 
authorized but unissued pursuant to Public Law 1999, chapter 514, 
authorized by the voters in a statewide election held on November 
2, 1999, for the acquisition of land and interests in land for 
conservation, water access, outdoor recreation, wildlife and fish 
habitat and farmland preservation, is further extended for 
a 
5-year period. 
SUMMARY 
This resolve extends the authority to issue bonds under the 
Land for Maine's Future program previously authorized in 1999. 
These funds are required to meet existing obligations incurred by 
the 
program 
under 
the 
1999 
bond 
issue 
and 
to fulfill its 
obligations under the Maine Revised Statutes, Title 5, chapter 
to protect public 
recreational opportunities, 
threatened 
farmland and the State's natural heritage. 
FISCAL :\OTE REQURED 
(See attached) 
Page l-LR2434(1) 
Approved: 07 125/05 ~ae 
LD (/b?3» 
LR 2434(01) 
Resolve, Reauthorizing the Balance of the 1999 Land for Maine's Future Bond Issue 
Bond Issues 
General Fund - Non-taxable 
Fiscal Detail and Notes 
Fiscal Note for Original Bill 
Sponsor: Speaker Richardson of Brunswick 
Committee: Not Referred 
Fiscal Note Required: Yes 
Fiscal Note 
Current biennium cost increase - General Fund 
Term(years) 
Principal 
$4,530,000 
Rate (%) 
4.0% 
Interest 
$996,600 
Total Cost 
$5,526,600 
This legislation reauthorizes the balance of the Land for Maine's Future bond issue originally authorized in 1999. 
The authorization had expired and is being reauthorized pursuant to Article IX, Section 14 of the Constitution of 
Maine. 
LR2434(1) - Fiscal Note - Page 1 of 1