"Do you favor approving the Act creating the Kennebec Regional Development Authority passed by the 118th Legislature, and (insert name of city, town or plantation) becoming a participating member of that authority?"

In the case of written ballots, the voters must indicate by a cross or a check mark placed against the words "Yes" or "No" their opinion of the same.__In the case of a vote taken at a meeting of a city, town or plantation council meeting, the same question must be presented to the members of the council for their vote.

This Act takes effect immediately upon acceptance by the cities, towns and plantations so voting approval and having a combined state valuation of at least $3,000,000,000.__The result of the votes taken in each city, town or plantation must be declared by the respective municipal officers and due certification thereof must be filed by the city, town or plantation clerk with the Secretary of State.

SUMMARY

This bill contains the following 3 clarifications to the private and special law that was enacted by the 118th Maine Legislature in 1997 creating the Kennebec Regional Development Authority.

1. The bill clarifies that the communities that are presently part of the Kennebec Valley Economic Development District are eligible to become participating members of the Kennebec Regional Development Authority.

2. The bill adds a specific statement to the law that would be placed on any bond, note or other obligation issued by the authority, that those bonds, notes and other obligations do not constitute a debt or liability of the State or any participating city, town or plantation and do not constitute a pledge of the faith and credit of the State or any participating city, town or plantation. The bill also adds a provision that authorizes the authority to issue bonds, notes or other obligations to the Finance Authority of Maine.