LD 1238
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Page 1 of 3 An Act to Authorize a General Fund Bond Issue in the Amount of $10,000,000 for ... Page 3 of 3
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LR 1144
Item 1

 
Sec. 6. Allocations from General Fund bond issue; to support the preservation of battle flags
of Maine's volunteer regiments and other projects designated by the Maine Historic
Preservation Commission. The proceeds of the sale of bonds must be
expended as designated in the following schedule.

 
MAINE HISTORIC PRESERVATION COMMISSION

 
Historic Buildings

 
Perkins Township$1,000,000

 
Coburn Mansion in Skowhegan$2,000,000

 
Lewellyn Estes Monument$100,000

 
To support the preservation of$6,900,000

 
battle flags of Maine's volunteer

 
regiments and other projects

 
designated by the Maine Historic

 
Preservation Commission

 
__________

 
TOTAL ALLOCATIONS$10,000,000

 
Sec. 7. Contingent upon ratification of bond issue. Sections 1 to 6 do not
become effective unless the people of the State have ratified
the issuance of 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 carried 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 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 or bond
anticipation notes for an additional amount of time not to exceed
5 years.

 
Sec. 10. Statutory referendum procedure; submission at statewide election; form of
question; effective date. This Act must be submitted to the legal voters
of the State of Maine at a statewide election held on the Tuesday
following the first Monday of November following passage


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