LD 1191
pg. 3
Page 2 of 5 An Act to Authorize a General Fund Bond Issue in the Amount of $5,000,000 to Pr... Page 4 of 5
Download Bill Text
LR 609
Item 1

 
"Do you favor a $5,000,000 bond issue to encourage job growth
and economic vitality by providing access to capital for
cranberry growers and processors?"

 
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 and, if a majority of the legal votes are cast in favor
of the Part, the Governor shall proclaim the result without
delay, and the Part 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 Part
necessary to carry out the purpose of this referendum.

 
PART B

 
Sec. B-1. 10 MRSA §964, sub-§1, ¶I, as amended by PL 1989, c. 774, §2,
is further amended to read:

 
I. Student financial assistance programs; and

 
Sec. B-2. 10 MRSA §964, sub-§1, ¶J, as enacted by PL 1989, c. 774, §3,
is amended to read:

 
J. Waste oil furnace loan program.; and

 
Sec. B-3. 10 MRSA §964, sub-§1, ¶K, is enacted to read:

 
K.__Cranberry Product Loan Program.

 
Sec. B-4. 10 MRSA §1023-L is enacted to read:

 
§1023-L.__Cranberry Product Loan Fund

 
The Cranberry Product Loan Fund, referred to in this section
as the "fund," is created.__The fund must be deposited with and
maintained and administered by the Finance Authority of Maine.__
All money received by the Finance Authority of Maine from any
source for the development and implementation of the Cranberry
Product Loan Fund must be credited to the fund.__Any money
credited to the fund from the issuance of bonds on behalf of the
State for financing loans for cranberry product enterprises may


Page 2 of 5 Top of Page Page 4 of 5