An Act To Authorize a General Fund Bond Issue for the Land for Maine's Future Board
Maine Legislature, Session 124, LD 0153
Committee: Appropriations and Financial Affairs
Sponsors: FLOOD, ADAMS, BARTLETT, PIOTTI, DAVIS

Legislative Document 
No. 153 
H.P.132 
House of Representatives, January 15,2009 
An Act To Authorize a General Fund Bond Issue for the Land for 
Maine's Future Board 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
Presented by Representative FLOOD of Winthrop. 
7r;dJ~1d:: /J7· m~~{ 
MILLICENT M. MacFARLAND 
Clerk 
Cosponsored by Representative ADAMS of Portland, Senator BARTLETT of Cumberland and 
Representative: PIOTTI of Unity, Senator: DAVIS of Cumberland. 
PnllIl'd t.1l1le~ydI..'J papc:r 
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 ofthe 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 ~ehalf of the State in 
an ainountnot exceeding $30,000',000 for-the purposes described in section"6 of this 
Act and to access $15,000,000 in matching contributions froIl} public and private 
sources. No more than $15,000,000 in bonds may be issued within the first year after 
ratification of the issuance of bonds as set forth in this Act and no more than-
$15,000,000 may be issued in the subsequent year. 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 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. 
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Sec. 5. Disbursement of bond proceeds allocated to Land for Maine's 
Future Board. The proceeds of the bonds must be expended under the direction 
and supervision of the Land for Maine's Future Bowd for acquisition of land and 
interest in land for conservation, water access; outdoor recreation, wildlife and fish· 
habitat and farmland preservation in accordance with the provisions for such 
acquisitions under the Maine Revised Statutes, Title 5, chapter 353, including all 
costs associated with such acquisitions, except that use of the proceeds of these bonds 
is subject to the following conditions and requirements. 
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1. Hunting, fishing, trapping and public access may not be prohibited on land 
acquired with bQnd proceeds, .except to the extent of applicable state, local or federal 
laws and regulations. 
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2. 
Payments from bond proceeds for acquisitions of local or regional 
significance, as determined by the Land for Maine's Future Board, may be made 
directly to cooperating entities as defined'in Title 5,section 6201, subsection 2 for 
. acquisition of land and interest in land by cooperating entities, subject to terms and 
conditions enforceable by the State to ensure their use for the purposes of this Act. 
3. The bond funds must be matched with at least $15,000,000 in public and 
private contributions. Seventy percent of that amount must be in the form of cash or 
other tangible assets, including the value of land and real property interesi acquired 
by or contributed to cooperating entities when property interests have a direct 
relationship to the property proposed for protection, as determined by the Land for 
Maine's Future Board. The remaining 30% may be matching contributions and may 
include the value of project-related, in-kind contributions of goods and services to 
and by cooperating entities. 
4. Ten percent of the bond proceeds allocated to the Land for Maine's Future 
Board must be made available to acquire public access to water in accordance with 
the provisions of Title 5, section 6203-A. 
5. Ten percent of the bond proceeds allocated to the Land for Maine's Future 
Board must be made available to protect farmland in accordance with Title 5, section 
6207. 
6. To the extent the purposes are consistent with the disbursement provisions in 
this Act, 100% of the bond proceeds may be considered as state match for any federal 
funding to be made available to the State. 
Sec. 6. Allocations from General Fund bond issue. The proceeds of the 
sale of the bonds authorized under tlns Act must be expended as designated in the 
following schedule. 
LAND FOR MAINE'S FUTURE 
BOARD 
Provides funds to be used for the 
acquisition of land and interest in land for 
public land and water access, 
conservation, wildlife and fish habitat, 
outdoor recreation, including hunting and 
fishing, and farmland preservation. 
$30,000,000 
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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 unencumbe.red appropriation balances representing state money carry 
forward. Bond proceeds that have not been expended withiri 10 years after the date 
of the sale ofthe 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 remaimng unissued bonds or bond artticipatiortrtotes for art 
additional amountoftime 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 November following passage ofthis 
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 $30,000,000 bond issue to purchase land and 
conservation easements statewide for public land and water access, 
conservation, wildlife and fish habitat, outdoor recreation, including 
hunting and fishing, and farmland preservation, to be matched by at 
least $15,000,000 in private and public contributions?" 
The legal voters eif 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 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 tq carry out· the purposes of this 
referendum. 
SUMMARY 
The funds provided by this bond issue, in the amount of $30,000,000, will be 
used to recapitalize the Land for Maine's Future Fund over 2 years to continue the 
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State's land conservation efforts, leveraging a minimum of $15,000,000 in required 
matching funds.