An Act To Authorize a General Fund Bond Issue for Riverfront Community Development March 22, 2007
Maine Legislature, Session 123, LD 1677
Committee: Appropriations and Financial Affairs
Sponsors: ROTUNDO, ROSEN, BARTLETT, BENOIT, DOW, EDMONDS, GOOLEY, HOBBINS, MARRACHE, MARTIN, MILLS, MITCHELL, PERRY, RA YE, SCHNEIDER, TURNER, BABBIDGE, BEAUDETTE, BERRY, BLANCHARD, BOLAND, BRAUTIGAM, CAIN, CARTER, CASAVANT, CLARK, CLEARY, CONOVER, CRAVEN, CUMMINGS, DRISCOLL, DUCHESNE, DUNN, EATON, FAIRCLOTH, FINLEY, FLOOD, GERZOFSKY, GIFFORD, GILES, GROSE, KOFFMAN, MAKAS, MILLER, MILLETT, PERCY, PINGREE, PINKHAM, PRATT, RECTOR, ROBINSON, SAMSON, SAVAGE, SCHATZ, SILSBY, SIMPSON, SIROIS, SOCTOMAH, TARDY, TIBBETTS, TREAT, WAGNER, WALCOTT, WATSON

Legislative Document 
No. 1677 
S.P. 583 
An Act To Authorize a General Fund Bond Issue for Riverfront 
Community Development 
March 22, 2007 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
Presented by Senator ROTUNDO of Androscoggin. 
JOY 1. O'BRIEN 
Secretary of the Senate 
Cosponsored by Representative ROSEN of Bucksport and Senators: BARTLETT of Cumberland, BENOIT of 
Sagadahoc, DOW of Lincoln, President EDMONDS of Cumberland, GOOLEY of Franklin, HOBBINS of York, 
MARRACHE of Kennebec, MARTIN of Aroostook, McCORMICK of Kennebec, MILLS of Somerset, 
MITCHELL of Kennebec, PERRY of Penobscot, RA YE of Washington, ROSEN of Hancock, SCHNEIDER of 
Penobscot, TURNER of Cumberland, Representatives: BABBIDGE of Kennebunk, BEAUDETTE of Biddeford, 
BERRY of Bowdoinham, BLANCHARD of Old Town, BOLAND of Sanford, BRAUTIGAM of Falmouth, 
CAIN of Orono, CARTER of Bethel, CASAVANT of Biddeford, CLARK of Millinocket, CLEARY of Houlton, 
CONOVER of Oakland, CRAVEN of Lewiston, CRA Y of Palmyra, Speaker CUMMINGS of Portland, 
DRISCOLL of Westbrook, DUCHESNE of Hudson, DUNN of Bangor, EATON of Sullivan, FAIRCLOTH of 
Bangor, FINLEY of Skowhegan, FLOOD of Winthrop, GERZOFSKY of Brunswick, GIFFORD of Lincoln, 
GILES of Belfast, GROSE of Woolwich, KOFFMAN of Bar Harbor, MAKAS of Lewiston, McDONOUGH of 
Scarborough, McFADDEN of Dennysville, MILLER of Somerville, MILLETT of Waterford, PERCY of 
Phippsburg, PERRY of Calais, PINGREE of North Haven, PINKHAM of Lexington Township, PRATT of 
Eddington, RECTOR of Thomaston, ROBINSON of Raymond, SAMSON of Auburn, SAVAGE of Falmouth, 
SCHATZ of Blue Hill, SILSBY of Augusta, SIMPSON of Auburn, SIROIS of Turner, SOCTOMAH of the 
Passamaquoddy Tribe, TARDY of Newport, TIBBETTS of Columbia, TREAT of Farmingdale, WAGNER of 
Lewiston, WALCOTT of Lewiston, WATSON of Bath. 
Printed on recycled paper 
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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: 
PART A 
II 
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 $25,000,000 for the purposes described in section 7 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. 
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-S. 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 
Economic and Community Development. 
Sec. A-6. Use of bonds. Bond proceeds may be used for grants for investment in 
economic revitalization, environmental enhancement and community betterment projects 
along the clean and healthy rivers of the State in a fashion that preserves and enhances 
economic activity, environmental protection and the quality of life for Maine people, 
except that use of the proceeds is subject to the following conditions and requirements. 
I. Any municipality abutting a river and any not-for-profit corporation organized in 
whole or in part for the purpose of waterfront economic, environmental enhancement and 
community development in the State may apply to the Department of Economic and 
Community Development for funding from this grant program. 
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2. For a municipality-sponsored or not-for-profit corporation-sponsored project to be 
eligible to receive grant funding, the project must have as its purpose: 
A. The development or restoration of public parks, walkways and other public spaces 
along river corridors either situated in downtown, developed riverfront locations or 
between and connecting 2 or more such locations; 
B. 
Rehabilitation of degraded or dilapidated shorelines in downtown riverfront 
locations in a manner designed to encourage subsequent private development on or 
near those shorelines; or 
C. The restoration of native fisheries and riverine ecosystems. 
3. Proposed projects must demonstrate support from a broad range of public and 
private entities and the local community. 
4. Eligible applications must include a commitment of $2 in matching funds from 
other public or private sources for every one dollar in bond funds. 
5. Bond funds may not be used to subsidize or support activities that are otherwise 
required of a party under applicable municipal, state or federal laws, including 
environmental and other health and safety laws, any license or permit condition or 
requirement or any mandated mitigation or remediation activity. 
Sec. A-7. 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. 
DEPARTMENT OF ECONOMIC 
AND COMMUNITY 
DEVELOPMENT-RIVERFRONT 
COMMUNITY DEVELOPMENT 
PROGRAM 
Provides funds for the creation of a grant 
program to invest in economic 
revitalization, environmental 
enhancement and community betterment 
projects along the clean and healthy rivers 
of the State in a fashion that preserves and 
enhances economic activity, 
environmental protection and the quality 
of life for Maine people. 
$25,000,000 
Sec. A-S. Contingent upon ratification of bond issue. Sections 1 to 7 do not 
become effective unless the people of the State ratify the issuance of the bonds as set 
forth in this Part. 
Sec. A-9. 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. A-lO. 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 
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. A-H. Referendum for ratification; submission at election; form of 
question; effective date. This Part must be submitted to the legal voters of the State at 
a statewide election held in the month of November following the 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 $25,000,000 bond issue to fund a grant program 
administered 
by the Department of Economic and Community 
Development to invest in economic, environmental and community 
development projects along rivers in Maine, to be matched by at least 
$50,000,000 in private and public 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, 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. 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. 
PART B 
Sec. B-1. Program established; administration. The Riverfront Community 
Development Program, referred to in this Part as "the program," is established within the 
Department of Economic and Community Development to assist and encourage 
communities along Maine's rivers to revitalize their riverfronts in an environmentally 
sustainable manner and to promote river-oriented community development and 
enhancement projects. The department shall administer the program directly through the 
Municipal Investment Trust Fund to provide funding for the rehabilitation, revitalization 
and enhancement of riverfront communities and river ecosystems in the State. 
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Sec. B-2. 
Review panel. 
The Department of Economic and Community 
Development shall organize a review panel to advise the Commissioner of Economic and 
Community Development in the operation of the program, including without limitation 
evaluating applications and determining funding under the program. The panel consists 
of the Commissioner of Conservation and the Director of the State Planning Office within 
the Executive Department and 4 members of the public with expertise in the areas of: 
economic and community development, environmental conservation, tourism and 
ecotourism development and promotion and park and trail design and development. 
Sec. B-3. Selection criteria. 
The Department of Economic and Community 
Development shall develop selection criteria with which to evaluate applications for 
funding under the program for investment in rivers and riverfront communities. The 
selection criteria must include, without limitation: 
1. The economic significance of the proposed project to the immediate vicinity and 
in the State as a whole~ 
2. The level of compatibility with clean and healthy river ecosystems; 
3. The value of the proposed project with respect to downtown revitalization; 
4. The value of the proposed project with respect to environmental protection and 
ecological restoration; 
5. The value of the proposed project with respect to recreational uses; 
6. The degree of community support for the proposed investment; and 
7. 
The extent that the proposed project involves partnerships and meets multiple 
criteria for benefits. 
SUMMARY 
The funds provided by this bond issue, in the amount of $25,000,000, wiIl be used to 
fund a grant program to invest in projects that contribute to economic, environmental and 
community development and revitalization along the State's rivers, promote economic 
activity, protect the environment and enhance the quality of life for Maine people.