An Act To Authorize Bond Issues for Ratification by the Voters for the June 2010 Election
Maine Legislature, Session 124, LD 1826
Committee Amendment CA_A-SA_D_S526 (Senate)

SENATE AMENDMENT ".D" to COMMITTEE AMENDMENT "A" to H.P. 
1313, L.D. 1826, Bill, "An Act To Authorize Bond Issues for Ratification by the Voters 
for the June 2010 Election" 
Amend the amendment by striking out the substitute title and replacing it with the 
following: 
'An Act To Authorize a Bond Issue fOl" Ratification by the Voters for the June 2010 
Election' 
Amend the amendment by striking out evetything after the enacting clause and before 
the summary and insetting the following: 
'Sec. 1. Autho."ization 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 $22,000,000 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 T."easurer 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. 
SENA TE AMENDMENT 
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SENATE AMENDMENT ,·b" to COMMITTEE AMENDMENT "A" to H.P. 1313, L.D. 1826 
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 
Transportation. 
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. 
DEPARTMENT OF 
TRANSPORTATION 
General Fund 
Provides funds, including $17,000,000 to 
purchase and preserve approximately 240 
miles of railroad track in Aroostook County 
currently owned and operated by the 
Montreal, Maine and Atlantic Railway, 
which track upon acquisition by the State 
must be operated by a rail operator chosen 
through a competitive process, in 
consultation with sh ippers and other 
stakeholders of the track, and $5,000,000 to 
purchase a pOliion of rail line and to make 
other improvements related to improved 
freight rail service and preparation for 
future passenger rail service to Lewiston 
and Auburn. 
$22,000,000 
Sec. 7. Contingent upon I'atification of bond issue. Sections I 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. Appropt'iation balances at year-end. At the end of each fiscal year, all 
unencumbered appropriation balances representing state money carry fonvard. 
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 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. 10. Referendum for ratification; submission at election; form of 
question; effective date. This Act must be submitted to the legal voters of the State at 
a statewide election held in the month of June following passage of this Act. The 
lllunicipal officers of this State shall notify the inhabitants of their respective cities, towns 
SENATE AMENDMENT 
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SENA IE AMENDMENT "D " 
to COMMITTEE AlvIENDlvIENT "A" to H.P. 1313, L.D. 1826 
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 $22,000,000 bond issue to purchase and preserve 
approximately 240 miles of railroad track in Aroostook County and to 
purchase a portion of rail line and make improvements in preparation for 
future passenger rail service to Lewiston and Auburn?" 
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, sOlied, 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 m~ority 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 Secretaty of State shall prepare and furnish to each city, town and plantation all 
ballots, returns and copies of th is Act necessary to carty out the purposes of th is 
referendum.' 
SUMMARY 
This amendment strikes Committee Amendment "A" and authorizes a $22,000,000 
bond issue to purchase and preserve approximately 240 miles of railroad track in 
Aroostook County and to purchase a portion of rail line and make improvements in 
preparation for future passenge~ rail service t~viston and Auburn. It requires a June 
2010 referendum. 
SPONSORED BY: v~~ 
v~~ 
(Senator TRAHAN) 
COUNTY: Lincoln 
FISCAL XOTE REQUIRED 
(See attached) 
SENATE AMENDMENT 
Approved: 04/07/10 Mac. 
LD 1826 
LR 2648(04) 
An Act To Authorize Bond Issues for Ratification by the Voters for the June 2010 Election 
Fiscal Note for Senate Amendment~" to Committee Amendment "A" 
Bond Issues 
General Fund - Non-Taxable 
General Fund - Taxable 
Fiscal Detail and Notes 
Sponsor: Sen. Trahan of Lincoln 
Fiscal Note Required: Yes 
Term (years) 
.Fiscal Note 
Principal 
Rate (%) 
($57,800,000) 
4.0% 
($5,20q,000) 
5.0% 
Interest 
Total Cost 
($12,716,000) 
($70,516,000) 
($1,430,000) 
($6,630,000) 
This amendment reduces the amount of bonds to be sent to the voters by $63,000,000. 
LR2648(04) - Fiscal Note - Page I of I 
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