| | | The estimated cost of sending this bond issue out to | | referendum will vary according to the total number of referenda | | enacted during the 119th First Regular Session to be submitted to | | the voters in November 1999. The estimated cost to the Secretary | | of State if one to 6 referenda are enacted is $95,000. Each | | additional referendum costs an additional $7,000. |
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| | | If approved by the voters, the total cost of this bond issue | | is estimated to be $45,750,000, with principal payments of | | $30,000,000 and interest payments of approximately $15,750,000. |
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| | | This bill requires that certain Land for Maine's Future Board | | acquisitions in the unorganized territories be approved by the | | affected county. The additional costs of this state mandate are | | expected to be minor. Pursuant to the Mandate Preamble, the two- | | thirds vote of all members elected to each House exempts the | | State from the constitutional requirement to fund 90% of the | | additional local costs. |
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| | | This bill is the minority report of the Joint Standing | | Committee on Appropriations and Financial Affairs. |
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| | | The funds provided by this bond issue, in the amount of | | $30,000,000, will be used by the Land for Maine's Future Board to | | acquire lands and interests in lands for conservation, water | | access, outdoor recreation, fish and wildlife habitat and | | farmland preservation. To maximize the effectiveness of this | | investment in Maine's future, the board will secure matching | | contributions of at least $25,000,000 from private contributions. |
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| | | The bill requires certain Land for Maine's Future Board | | purchases in the unorganized territory to be approved either by | | the county commissioners or by referendum of the legal voters | | within the county. It mirrors a provision currently in law | | regarding municipal approval of certain purchases in the | | unorganized territory. |
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