LD 2254
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Page 2 of 5 An Act to Authorize a General Fund Bond Issue in the Amount of $30,000,000 to F... Page 4 of 5
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LR 3198
Item 1

 
Sec. A-7. Allocations from General Fund bond issue; acquisition of lands; interests in lands for
conservation; water access; outdoor recreation; fish and wildlife habitat; farmland
preservation. The proceeds of the sale of bonds must be expended as
designated in the following schedule.

 
EXECUTIVE DEPARTMENT

 
State Planning Office

 
Land for Maine's Future Board

 
All Other$30,000,000

 
Provides for the use of bond
proceeds to be used for the
acquisition of lands and
interests in lands for
conservation, water access,
outdoor recreation, fish and
wildlife habitat and farmland
preservation.

 
Sec. A-8. Contingent upon ratification of bond issue. Sections 1 to 7 of this
Part do not become effective unless the people of the State have
ratified the issuance of bonds as set forth in this Part.

 
Sec. A-9. 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 25 years after the date of the sale of the bonds lapse to
General Fund debt service.

 
Sec. A-10. Bonds authorized but not issued. Any bonds authorized but not
issued, or for which bond anticipation notes are not issued
within 10 years of ratification of this Part, are deauthorized
and may not be issued; except that the Legislature may, within 2
years after the expiration of that 10-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. A-11. Referendum for ratification; submission at statewide election; form of
question; effective date. This Part 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
of this Act. The municipal officers of this State shall notify
the inhabitants of their


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