An Act Making Unified Appropriations and Allocations for the Expenditures of State Government, General Fund and Other Funds, and Changing Certain Provisions of the Law Necessary to the Proper Operations of State Government for the Fiscal Years Ending June 30, 2006 and June 30, 2007 Amend the amendment by inserting before the emergency preamble 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, Further amend the amendment by striking out all of Part PPPP and inserting in its place the following: PART PPPP Sec. PPPP-l. 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 $410,000,138 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. Page l-LR2149(4) SENATE AMENDMENT
Maine Legislature, Session 122, LD 0468
Committee Amendment CA_A-SA_U_S55 (Senate)

SENATE 
AMENDMENT "U:,. to COMMITTEE 
AMENDMENT 
"A" to H.P. 
343, L.D. 468, Bill, "An Act Making Unified Appropriations and 
Allocations for the Expenditures of State Government, 
General 
Fund and Other Funds, and Changing Certain Provisions of the Law 
Necessary to the Proper Operations of State Government for the 
Fiscal Years Ending June 30, 2006 and June 30, 2007" 
Amend 
the 
amendment 
by 
inserting 
before 
the 
emergency 
preamble 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,' 
Further amend the amendment by striking out all of Part PPPP 
and inserting in its place the following: 
'PART PPPP 
Sec. PPPP-l. 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 
$410,000,138 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. 
Page l-LR2149(4) 
SENATE AMENDMENT 
SENATE AMENDMENT " ~, to COMMITTEE AMENDMENT 
"A" to H. P • 
L.D. 468 
343, 
Sec. PPPP-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. PPPP-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. PPPP-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. PPPP-S. 
Appropriations and allocations. 
appropriations and allocations are made. 
The 
following 
SECRE7ARY OF STATE, DEPARTMENT OF 
Bureau of Administrative Services and Corporations 
0692 
Initiative: 
Provides 
one-time 
funding 
to 
reimburse 
municipalities 
for 
the cost of holding 
a 
special 
statewide 
referendum in June of 2005. 
Municipalities shall apply to the 
Secretary of State for reimbursement of these election costs. 
GENERAL FORD 
All Other 
GENERAL FUND TOTAL 
2005-06 
$400,000 
$400,000 
2006-07 
$0 
$0 
Bureau of Administrative Services and Corporations 
0692 
Initiative: 
Provides one-time funding for the cost of holding a 
special statewide referendum in June of 2005. 
GENERAL FORD 
All Other 
GENERAL FUND TOTAL 
SENATE 
2005-06 
$139,560 
$139,560 
2006-07 
$0 
$0 
AMENDMENT 
~~. 
~. 
SENATE AMENDMENT "U:. to COMMITTEE 
AMENDMENT "A" to H.P. 343, 
L.D. 468 
SECRETARY OF' STATE, DEPAJr.l'MENT OF' 
DEPAJr.l'MENT 'l'O'.rALS 
GENERAL FORD 
DEPAJr.l'MENT 'l'O'.rAL -
ALL FORDS 
2005-06 
2006-07 
$539,560 
$0 
$539,560 
$0 
Sec. PPPP-6. Allocations from General Fund bond issue. 
The 
proceeds of the sale of the bonds authorized under this Part must 
be expended as designated in the following schedule. 
ADMINISTRATIVE AND F'IRARCIAL SERVICES, 
DEPAJr.l'MENT OF' 
Provides funds to fund prepayment to the 
Maine State Retirement System of a 
portion of the unfunded actuarial liability. 
$410,000,138 
Sec. PPPP-7. Contingent upon ratification of bond issue. 
Sections 
to 6 do not become effective unless the people of the State 
ratify the issuance of the bonds as set forth in this Part. 
Sec. PPPP-S. 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. PPPP-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 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 period for issuing any remaining unissued bonds or 
bond anticipation notes for an additional amount of time not to 
exceed 5 years. 
Sec. PPPP-IO. 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 in 
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 Part by voting on the following 
question: 
"Do you favor a $410,000,138 bond issue to prepay to the 
Maine State Retirement System 
a 
portion of the unfunded 
SENATE AMENDMENT 
,~~~~. 
SENATE AMENDMENT 
.. U,... to COMMITTEE 
AMENDMENT 
"A;' to H. P. 
L.D. 468 
343, 
actuarial liability in order to fund current operations of 
State Government for the fiscal years ending June 30, 2006 
and June 30, 2007?" 
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 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.' 
Further amend the amendment by relettering or renumbering 
any 
nonconsecutive 
Part 
letter 
or 
section 
number 
to 
read 
consecutively. 
SUMMARY 
This amendment strikes Part PPPP from Committee Amendment 
"A," 
which authorized the issuance of $410,000,138 in bonds 
through the Maine Municipal Bond Bank to fund prepayment to the 
Maine State Retirement 
System of 
a 
portion of the 
unfunded 
actuarial liability and replaces it with a General Fund bond 
issue in the same amount to be used for the same purposes. 
FISCAL NOTE REQUIRED 
(See attached) 
SPONSORED B~ 
(Senator R. ROS N) 
COUNTY: 
Hancock 
SENATE AMENDMENT 
Approved: 03/29/05 ~ae 
LD468 
LR 2149(04) 
An Act Making Unified Appropriations and Allocations for the Expenditures of State Government, 
General Fund and Other Funds, and Changing Certain Provisions of the Law Necessary to the Proper 
Operations of State Government for the Fiscal Years Ending June 30, 2006 and June 30, 2007 
Fiscal Note for Senate Amendment lA.to Committee Amendment A 
Net Cost (Savings) 
General Fund 
Appropriations/Allocations 
General Fund 
Transfers 
General Fund 
Sponsor: Sen. Rosen 
Fiscal Note Required: Yes 
Fiscal Note 
Contingent current biennium cost increase - General Fund 
Referendum cost - General Fund 
2005-06 
2006-07 
$133,115,226 
$117,424,334 
$175,023,628 
$184,081,037 
$41,908,402 
$66,656,703 
Referendum Costs 
MonthlY ear 
Election Type 
Question 
Length 
Jun-05 
Special 
Referendum 
Standard 
The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general 
election in November. A special election would require an additional appropriation of$139,560. 
Fiscal Detail and Notes 
This amendment will increase the General Fund cost of the bill by $133,115,226 in fiscal year 2005-06 and 
$117,424,334 in fiscal year 2006-07. Based on the estimated year-end balances, a balanced budget is not maintained 
for the 2006-2007 biennium. 
Because the savings generated by Section PPPP would, by this amendment, be contingent on approval by the voters in 
June and on the ability to issue General Obligation bonds to fund current expenditures, those savings cannot be 
booked until approval occurs. The costs above reflect reinstatement of the appropriations for teacher's retirement 
costs in the biennium reduced by a transfer from unappropriated surplus. They also include $400,000 appropriated to 
the Secretary of State to reimburse municipalities for documented expenses incurred in conducting the referendum and 
$139,560 for the state costs of holding it. 
LR2149(4) - Fiscal Note - Page 1 of 1