LD 2378
pg. 2
Page 1 of 2 RESOLUTION, Proposing an Amendment to the Constitution of Maine Establishing a ... LD 2378 Title Page
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LR 3526
Item 1

 
cross or check mark placed within the 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 it appears that a majority of the legal votes are
cast in favor of the amendment, the Governor shall proclaim that
fact without delay and the amendment becomes part of the
Constitution on the date of the proclamation; and be it further

 
Secretary of State shall prepare ballots. Resolved: That the Secretary of
State shall prepare and furnish to each city, town and plantation
all ballots, returns and copies of this resolution necessary to
carry out the purpose of this referendum.

 
SUMMARY

 
This resolution proposes amending the Constitution of Maine to
establish a reserve fund that acts to stabilize the General Fund
in the event of an economic downturn as well as to provide
resources for debt payments on general obligation bonds, unfunded
liabilities and capital construction projects exceeding
$1,000,000.


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