An Act To Authorize a General Fund Bond Issue To Fund Research and Development for Cancer
Maine Legislature, Session 124, LD 0909
Committee: Appropriations and Financial Affairs
Sponsors: STRANG BURGESS, MARRACHE, BEAUDOIN, BEAULIEU, BERRY, CAIN, CAMPBELL, CELLI, CLARK, CONNOR, CROCKETT, EDGECOMB, EVES, FITTS, GOODE, HASKELL, JONES, LAJOIE, MAGNAN, MARTIN, MILLER, MILLETT, MITCHELL, NUTTING, PERRY, PETERSON, PINGREE, PIOTTI, PRIEST, RICHARDSON, RUSSELL, SANBORN, SCHATZ, STUCKEY, VALENTINO, WAGNER, WEBSTER, WRIGHT, BRANNIGAN, BRYANT, CRAVEN, DAVIS, DIAMOND, GERZOFSKY, MILLS, RA YE, ROSEN, SHERMAN, SIMPSON, TRAHAN

Legislative Document 
No. 909 
H.P. 627 . 
House of Representatives, March 5, 2009 
An Act To Authorize a General Fund Bond Issue To Fund Research 
and Development for Cancer 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
'I7l~ 1J1./J?ILC;PJc<fowl 
MILLICENT M. MacFARLAND 
Clerk 
Presented by Representative STRANG BURGESS of Cumberland. 
Cosponsored by Senator MARRACHE ofKem1ebec and 
Representatives: BEAUDOIN of Biddeford, BEAULIEU of Auburn, BERRY of Bowdoinham, 
CAIN of Orono, CAMPBELL of Newfield, CELLI of Brewer, CLARK of Millinocket, 
CONNOR of Kennebunk, CROCKETT of Augusta, EDGECOMB of Caribou, EVES of North 
Berwick, FITTS of Pittsfield, GOODE of Bangor, HASKELL of Portland, JONES of Mount . 
Vernon, LAJOIE of Lewiston, MAGNAN of Stockton Springs, MARTIN of Orono, MARTIN 
of Eagle Lake, MILLER of Somerville, MILLETT of Waterford, MITCHELL of the Penobscot 
Nation, NUTTING of Oakland, PERRY of Calais, PETERSON of Rumford, Speaker 
PINGREE of North Haven, PIOTTI of Unity, PRIEST of Bnmswick, RICHARDSON of 
Wan-en, RUSSELL of Portland, SANBORN of Gorham, SCHATZ of Blue Hill, STUCKEY of 
POliland, TARDY ofNewpOli, VALENTINO of Saco, WAGNER of Lewiston, WEBSTER of 
FreepOli, WHEELERofKittery, WRIGHT of Berwick, Senators: BRANNIGAN of 
. Cumberland, BRYANT of Oxford, CRAVEN of Androscoggin, DAVIS of Cumberland, 
DIAMOND of Cumberland, GERZOFSKY of Cumberland, MILLS of Somerset, NUTTING 
~' 
of Androscoggin, RA YE of Washington, ROSEN of Hancock, SHERMAN of Aroostook, 
SIMPSON of Androscoggin, TRAHAN of Lincoln. 
Printed 011 recycled p:JjJer 
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: 
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 behalf of the. State in an 
amount not exceeding $25,000,000 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 
lOa 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. R.ecords 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 whoIp. 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 
·ofbonds at maturity. 
Sec. 5. Disbursement of bond proceeds. The proceeds of the bonds must be 
. 28 
expended as set out in this Act. under the direction and supervision of the Department of 
Economic and Community Development, Office of Irmovation. 
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 
32· 
schedule. 
DEPARTMENT OF ECONOMIC AND 
COMMUNITY DEVELOPMENT 
Office of Innovation 
Page I - 124LR1708(Ol)-1 
) 
) 
) 
n 
'22 
,,----/ 
Provides funds for research and 
development, as prioritized by the 
Department of Economic and Community 
Development, Office of Innovation in 
consultation with the Maine Cancer 
Consortium in accordance with its Maine 
Comprehensive Cancer Control Plan. The 
funds must be awarded through a 
competitive process to Maine-based public 
and private institutions. 
$25,000,000 
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 
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. 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 ratific~tion 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 November 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 Act by voting on the following question: 
"Do you favor a $25,000,000 bond issue to be used to provide funds for 
research and deVelopment, as prioritized by the Department of Economic 
and Community Development, Office of Innovation in consultation with 
the Maine Cancer Consortium in accordance with its Maine 
Comprehensive Cancer Control Plan, in which the funds must be 
awarded through a competitive process to Maine-based public and 
private in,stitutions?" 
The legal voters of each city, town and plantati9n 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 to carry out the purposes of this 
referendum. 
SUMMARY 
. 
. 
The funds provided by this bond issue, in the amount of $25,000,000, will be used to 
provide funds for research and development, as prioritized by the Department. of 
Economic and Community Development, Office of Innovation in consultation with the 
Maine Cancer Consortium in accordance with its Maine Comprehensive Cancer Control 
Plan, in which the funds must be awarded through a competitive process to Maine-based 
public and private institutions. 
) 
) 
)