An Act To Authorize a General Fund Bond Issue To Support the Independence of Maine's Seniors
Maine Legislature, Session 127, LD 1205
Committee: Appropriations and Financial Affairs
Sponsors: EVES, BURNS, BABBIDGE, BATES, BEAVERS, BROOKS, BRYANT, BUCKLAND, BURSTEIN, CAMPBELL, CHENETTE, CHIPMAN, COOPER, DAVITT, DEVIN, DOORE, DUNPHY, EVANGELOS, FARNSWORTH, FARRIN, FOLEY, FOWLE, FREY, GATTINE, GILBERT, GOLDEN, GRANT, GROHMAN, HICKMAN, HOBART, HOBBINS, HOGAN, HUBBELL, HYMANSON, JORGENSEN, KUMIEGA, LAJOIE, LONGSTAFF, MARTIN, MASTRACCIO, MELARAGNO, MONAGHAN, NADEAU, PICCHIOTTI, PICKETT, PIERCE, ROTUNDO, SANBORN, SAUCIER, SCHNECK, STUCKEY, TEPLER, TIPPING-SPITZ, TUELL, VEROW, JOHNSON, KATZ, LANGLEY, MILLETT, MIRAMANT, SAVIELLO, VOLK

Legislative Document 
No. 1205 
H.P. 823 
House of Representatives, April 2, 2015 
An Act To Authorize a General Fund Bond Issue To Support the 
Independence of Maine's Seniors 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
ROBERT B. HUNT 
Clerk 
Presented by Speaker EVES of North Berwick. 
Cosponsored by Senator BURNS of Washington and 
Representatives: BABBIDGE of Kennebunk, BATES of Westbrook, BEAVERS of South Berwick, 
BROOKS of Lewiston, BRYANT of Windham, BUCKLAND of Farmington, BURSTEIN of 
Lincolnville, CAMPBELL of Newfield, CAMPBELL of Orrington, CHENETTE of Saco, 
CHIPMAN of Portland, COOPER of Yarmouth, DAVITT of Hampden, DEVIN of Newcastle, 
DOORE of Augusta, DUNPHY of Old Town, EVANGELOS of Friendship, FARNSWORTH of 
Portland, FARRIN of Norridgewock, FOLEY of Wells, FOWLE of Vassalboro, FREY of Bangor, 
GATTINE of Westbrook, GILBERT of Jay, GOLDEN of Lewiston, GRANT of Gardiner, 
GROHMAN of Biddeford, HICKMAN of Winthrop, HOBART of Bowdoinham, HOBBINS of 
Saco, HOGAN of Old Orchard Beach, HUBBELL of Bar Harbor, HYMANSON of York, 
JORGENSEN of Portland, KUMIEGA of Deer Isle, LAJOIE of Lewiston, LONGSTAFF of 
Waterville, MARTIN of Eagle Lake, MASTRACCIO of Sanford, McCREIGHT of Harpswell, 
McELWEE of Caribou, MELARAGNO of Auburn, MONAGHAN of Cape Elizabeth, NADEAU 
of Winslow, PICCHIOTTI of Fairfield, PICKETT of Dixfield, PIERCE of Falmouth, ROTUNDO 
of Lewiston, SANBORN of Gorham, SAUCIER of Presque Isle, SCHNECK of Bangor, 
STUCKEY of Portland, TEPLER of Topsham, TIPPING-SPITZ of Orono, TUELL of East 
Machias, VEROW of Brewer, Senators: JOHNSON of Lincoln, KATZ of Kennebec, LANGLEY 
of Hancock, MILLETT of Cumberland, MIRAMANT of Knox, SAVIELLO of Franklin, VOLK of 
Cumberland. 
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 $65,000,000 for the purposes described in section 5 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. 
Sec. 2.  Records of bonds issued; Treasurer of State. The Treasurer of State 
shall ensure that an account of each bond is kept 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 Office of the Treasurer of State to be used for the retirement of 
general obligation 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. 
Sec. 5.  Disbursement of bond proceeds 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 under the direction and supervision of the agencies 
and entities set forth in this section. 
Provides funds to be used to leverage an estimated $100,000,000 in private and other 
funds for low-income households headed by a person 55 years of age or older for the 
construction of new energy-efficient affordable homes and the adaptive reuse of 
structures or homes.  At least one project must be located in each county, and 
preference must be given to homes in locations that have access to health care 
services, other essential goods and services and public transportation. 
MAINE STATE HOUSING 
AUTHORITY 
Total 
$64,000,000
Provides funds to be used to match private and other funds for home repair and 
weatherization programs that assist low-income seniors. 
Sec. 6.  Contingent upon ratification of bond issue.  Sections 1 to 5 do not 
become effective unless the people of the State ratify the issuance of the bonds as set 
forth in this Act. 
Sec. 7.  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 the Office of the Treasurer of State to be used for the retirement of general 
obligation bonds. 
Sec. 8.  Bonds authorized but not issued.  Any bonds authorized but 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 for an additional amount of time not 
to exceed 5 years. 
Sec. 9.  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 $65,000,000 bond issue for the construction of new 
energy-efficient affordable homes for low-income seniors, the adaptive 
reuse of structures for homes for low-income seniors and the repair and 
weatherization of existing homes for low-income seniors, which will 
create jobs and will be matched by an estimated $100,000,000 in private 
and other 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 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. 
Total 
$1,000,000
SUMMARY 
The funds provided by this bond issue, in the amount of $65,000,000, will be used to 
assist in the provision of energy-efficient affordable homes to low-income Maine seniors.  
The bulk of the bond proceeds will be used to construct new homes for seniors and to 
adaptively reuse existing structures to provide homes for seniors.  At least one project 
will be located in each of Maine's 16 counties.  Preference will be given to home 
locations that have access to health care services, other essential goods and services and 
public transportation.  A portion of the bond proceeds will provide for home repair and 
weatherization of the existing homes of low-income seniors.  The bond proceeds will 
leverage an estimated $100,000,000 in private and other funds.