LD 1694 (subjects: BOND ISSUES , TRANSPORTATION )
Official bill page at mainelegislature.org: http://www.mainelegislature.org/legis/bills/display_ps.asp?ld=1694&PID=1456&snum=127
Sponsors | Actions | Bill Text | Patterns of Support
- Rep. Wayne Parry of Arundel: (R – District 10) — e-mail | Facebook
Rep. Mark Bryant of Windham: (D – District 24) — e-mail | Twitter | Facebook
Rep. Brian Hobart of Bowdoinham: (R – District 55) — e-mail | Facebook
Rep. Jared Golden of Lewiston: (D – District 60) — e-mail
Rep. Christine Powers of Naples: (D – District 68) — e-mail | Twitter | Facebook
Rep. James Gillway of Searsport: (R – District 98) — e-mail | Facebook
Rep. Bradlee Farrin of Norridgewock: (R – District 111) — e-mail | Facebook
Rep. Arthur Verow of Brewer: (D – District 128) — e-mail | Facebook
Sen. Kimberley Rosen of Hancock: (R – District 8) — e-mail | Facebook
|4/1/2016||Senate||Committee on APPROPRIATIONS AND FINANCIAL AFFAIRS
suggested and ordered printed
On motion by Senator Mason of Androscoggin REFERRED to the Committee on APPROPRIATIONS AND FINANCIAL AFFAIRS
Ordered sent down forthwith for concurrence.
|4/1/2016||House||Bill REFERRED to the Committee on APPROPRIATIONS AND FINANCIAL AFFAIRS.
In concurrence. ORDERED SENT FORTHWITH.
|4/14/2016||Senate||Report READ and ACCEPTED.
Committee Amendment “A” (S-534) READ and ADOPTED.
Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment “A” (S-534) .
Ordered sent down forthwith for concurrence.
|4/15/2016||House||CONSENT CALENDAR – FIRST DAY
On OBJECTION of Representative FREDETTE of Newport REMOVED.
The Committee Report was READ and ACCEPTED.
ROLL CALL NO. 637
(Yeas 138 – Nays 4 – Absent 9 – Excused 0)
The Bill was READ ONCE.
Committee Amendment “A” (S-534) was READ and ADOPTED.
Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading.
The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment “A” (S-534).
In concurrence. ORDERED SENT FORTHWITH.
|4/15/2016||House||This being a Bond Authorization Act, in accordance with Section 14 of Article 9 of the Constitution, a two-thirds vote of all those present was necessary.
PASSED TO BE ENACTED.
Sent for concurrence. ORDERED SENT FORTHWITH.
|4/15/2016||Senate||PASSED TO BE ENACTED – 2/3 Present Required, in concurrence.
Roll Call Ordered Roll Call Number 692 Yeas 32 – Nays 2 – Excused 1 – Absent 0 PREVAILED
An Act To Authorize a General Fund Bond Issue To Improve Highways, Bridges and Multimodal Facilities
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,
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 $100,000,000 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.
|TRANSPORTATION, DEPARTMENT OF|
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 $100,000,000 bond issue for construction, reconstruction and rehabilitation of highways and bridges and for facilities, equipment and property acquisition related to ports, harbors, marine transportation, freight and passenger railroads, aviation, transit and bicycle and pedestrian trails, to be used to match an estimated $137,000,000 in federal 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.
The funds provided by this bond issue, in the amount of $100,000,000, will be used for construction, reconstruction and rehabilitation of highways and bridges and for facilities, equipment and property acquisition related to ports, harbors, marine transportation, freight and passenger railroads, aviation, transit and bicycle and pedestrian trails, matching an estimated $137,000,000 in federal and other funds.
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Note: Maine Clean Elections Act (MCEA) Qualified candidates only accept a small dollar value of initial contributions early in their campaigns, pledge not to accept further campaign contributions from private sources, and receive public funding for their campaigns. MCEA Non-Qualified candidates choose not to obtain public funding and instead are free to accept campaign contributions from individuals, party committees, political action committees and business sources.
This information about LD 1694 was last updated on 2016-05-13.
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