An Act To Reauthorize Certain Land for Maine's Future Bonds and To Facilitate the Issuance of Those Bonds
Maine Legislature, Session 127, LD 1561
Committee: Appropriations and Financial Affairs
Sponsors: KATZ, GRANT, BREEN, CYRWAY, DIAMOND, DOORE, FOWLE, GROHMAN, TUELL

Legislative Document 
No. 1561 
S.P. 612 
In Senate, January 14, 2016 
An Act To Reauthorize Certain Land for Maine's Future Bonds and 
To Facilitate the Issuance of Those Bonds 
(EMERGENCY) 
Approved for introduction by a majority of the Legislative Council pursuant to Joint Rule 
203. 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
HEATHER J.R. PRIEST 
Secretary of the Senate 
Presented by Senator KATZ of Kennebec. 
Cosponsored by Representative GRANT of Gardiner and 
Senators: BREEN of Cumberland, CYRWAY of Kennebec, DIAMOND of Cumberland, 
Representatives: DOORE of Augusta, FOWLE of Vassalboro, GROHMAN of Biddeford, 
TUELL of East Machias. 
Emergency preamble. Whereas, acts and resolves of the Legislature do not 
become effective until 90 days after adjournment unless enacted as emergencies; and 
Whereas, the Land for Maine's Future Fund, since its establishment in 1987, has 
conserved more than 560,000 acres of conservation and recreation lands now available to 
the public for a variety of activities including hunting, hiking, fishing, camping, 
snowmobiling, picnicking and birdwatching; and 
Whereas, the Land for Maine's Future Board, a 9-person committee consisting of 
the Commissioner of Marine Resources, the Commissioner of Inland Fisheries and 
Wildlife and the Commissioner of Agriculture, Conservation and Forestry and 6 public 
members, all nominated by the Governor and confirmed by the Senate, is authorized to 
distribute funds, set priorities and administer the Land for Maine's Future Fund; and 
Whereas, in July of 2014, the Land for Maine's Future Board made promises in 
writing to fund 30 projects by committing funds from bonds ratified by voters in 2010 
and 2012; and 
Whereas, the authorization to borrow $6,470,000 in bonds for the Land for Maine's 
Future Fund ratified by the voters expired in November of 2015; and 
Whereas, the Land for Maine's Future Board requires the funds to meet its 
obligations for these previously authorized land conservation projects with state, 
municipal and private entities and to fulfill its obligations under the Maine Revised 
Statutes, Title 5, chapter 353 in order to protect public recreational opportunities, 
farmland and the environment; and 
Whereas, the Treasurer of State may not sell the remaining bonds from the Land for 
Maine's Future Board bond issue ratified by the voters in November 2010 but not yet 
issued unless the Legislature reauthorizes the issuance of those bonds; and 
Whereas, in the judgment of the Legislature, these facts create an emergency within 
the meaning of the Constitution of Maine and require the following legislation as 
immediately necessary for the preservation of the public peace, health and safety; now, 
therefore, 
Be it enacted by the People of the State of Maine as follows: 
Sec. 1.  Extension of authorization for issuance.  Pursuant to the provisions of 
the Constitution of Maine, Article IX, Section 14, the period for issuance of unissued 
bonds or of bond anticipation notes for the acquisition of land and interests in land for 
purposes such as conservation, preservation of wildlife and fish habitat, outdoor 
recreation and farmland preservation authorized by the voters in a statewide election held 
in November 2010 pursuant to Public Law 2009, chapter 414, as amended by Public Law 
2009, chapter 645, is further extended for a 5-year period. 
Sec. 2.  Governor shall facilitate and expedite issuance of specific bonds 
ratified by voters. The Governor shall facilitate and expedite the issuance of bonds 
described in Public Law 2009, chapter 414, Part E, section 6, as amended by Public Law 
2009, chapter 645, Part J, section 3, and reauthorized pursuant to section 1, and of bonds 
described in Public Law 2011, chapter 696, section 6, as ratified by the voters of the State 
in statewide elections held in November 2010 and November 2012, respectively, unless: 
1.  Debt service greater.  The Treasurer of State determines that the debt service on 
the bond would be greater than the amount budgeted; 
2.  Adverse impact on credit rating.  The Treasurer of State determines that the 
issuance of the bonds will adversely affect the credit rating of the State; 
3.  Advantageous interest rate.  The Treasurer of State determines that a delay in 
the issuance of the bonds will likely result in a more financially advantageous interest 
rate; 
4.  Project not proceeding.  The Governor, the Treasurer of State and the 
Commissioner of Administrative and Financial Services receive written notification that a 
project for which the bonds were authorized is not going forward and the funding to be 
provided by the bonds is not required; or 
5.  Alternative funding available.  The Governor, the Treasurer of State and the 
Commissioner of Administrative and Financial Services receive written notification that 
alternative funding sources are available to implement, within a comparable time frame, a 
project and the purposes for which those bonds were authorized and ratified. 
Upon the occurrence of any of the circumstances set out in subsections 1 to 5, the 
Governor shall immediately notify the President of the Senate, the Speaker of the House 
of Representatives and the majority and minority leaders of the Senate and the House of 
Representatives of those circumstances. 
Sec. 3.  Issuance of bonds in accordance with Public Law 2009, chapters 
and 645 and reauthorized pursuant to section 1.  Notwithstanding any 
provision of law to the contrary in the Maine Revised Statutes, Title 5, section 145 or 
section 145-B, subsection 2 or Public Law 2009, chapter 414, Part E, no later than 30 
days following the effective date of this Act, in accordance with the ratification of the 
legal voters of the State in the statewide election held in November 2010, the Treasurer of 
State shall issue bonds in the name and on behalf of the State in an amount not exceeding 
$6,470,000, the proceeds of which are to be expended by the Land for Maine's Future 
Board for the purposes described in Public Law 2009, chapter 414, Part E, section 6, as 
amended by Public Law 2009, chapter 645, Part J, section 3. 
Sec. 4.  Issuance of bonds in accordance with Public Law 2011, chapter 
696.  Notwithstanding any provision of law to the contrary in the Maine Revised 
Statutes, Title 5, section 145 or section 145-B, subsection 2 or Public Law 2011, chapter 
696, no later than 30 days following the effective date of this Act, in accordance with the 
ratification of the legal voters of the State in the statewide election held in November 
2012, the Treasurer of State shall issue bonds in the name and on behalf of the State in an 
amount not exceeding $5,000,000, the proceeds of which are to be expended by the Land 
for Maine's Future Board for the purposes described in Public Law 2011, chapter 696, 
section 6. 
Sec. 5.  Release of funds to be used in accordance with Public Law 2009, 
chapters 414 and 645 and Public Law 2011, chapter 696.  Notwithstanding any 
provision of law to the contrary in the Maine Revised Statutes, Title 5 or any other 
provision of law, the Commissioner of Administrative and Financial Services shall 
effectuate the release of funds resulting from the borrowing completed pursuant to 
sections 3 and 4 of this Act, to be expended by the Land for Maine's Future Board for the 
purposes described in Public Law 2009, chapter 414, Part E, section 6, as amended by 
Public Law 2009, chapter 645, Part J, section 3, and Public Law 2011, chapter 696, 
section 6, as ratified by the voters of the State in statewide elections held in November 
2010 and November 2012. 
Emergency clause.  In view of the emergency cited in the preamble, this 
legislation takes effect when approved. 
SUMMARY 
This bill makes the following changes to the laws governing specific bonds for the 
Land for Maine's Future Board: 
1.  It authorizes the reissuance of bonds authorized by the voters in November 2010 
for the Land for Maine's Future Board that have not yet been issued; 
2.  It requires that the Governor authorize the issuance of the specific bonds for the 
Land for Maine's Future Board that were  ratified by the voters of the State in statewide 
elections held in November 2010 and November 2012, unless one of 5 specific conditions 
exists; 
3.  It requires the Treasurer of State to initiate borrowing in accordance with Public 
Law 2009, chapter 414, Part E, section 6, as amended by Public Law 2009, chapter 645, 
Part J, section 3, and Public Law 2011, chapter 696, section 6, ratified by the voters of the 
State in statewide elections held in November 2010 and November 2012, respectively; 
and 
4.  It requires the Commissioner of Administrative and Financial Services to 
effectuate the release to the Land for Maine's Future Board of funds resulting from the 
issuance of those bonds, to be expended for the purposes described in Public Law 2009, 
chapter 414, Part E, section 6, as amended by Public Law 2009, chapter 645, Part J, 
section 3, and Public Law 2011, chapter 696, section 6 and ratified by the voters of the 
State in statewide elections held in November 2010 and November 2012.