LD 2190, Page 1 - 120th Legislature, SECOND REGULAR Session

	Preamble. Two thirds of both Houses of the Legislature deeming
it necessary in accordance with the Constitution of Maine,
Article IX, Section 14 to authorize the issuance of bonds on
behalf of the State of Maine to provide funds to develop and
redevelop commercial facilities, to assist Maine businesses that
demonstrate an ability to create jobs and repay obligations but
do not have sufficient access to credit, to assist regional
economic development agencies to relend for the purpose of
creating or retaining jobs, to leverage federal funding to
redevelop the naval base in Winter Harbor and Gouldsboro into an
education and research center and to construct 2 facilities to
support Maine businesses through product development and testing.

Be it enacted by the People of the State of Maine as follows:

Sec. 1. Authorization of bonds to provide for funds to develop and redevelop
commercial facilities, to assist Maine businesses that demonstrate an ability to create jobs
and repay obligations but do not have sufficient access to credit, to assist regional economic
development agencies to relend for the purpose of creating or retaining jobs, to leverage
federal funding to redevelop the naval base in Winter Harbor and Gouldsboro into an
education and research center and to construct 2 facilities to support Maine businesses
through product development and testing. The Treasurer of State is
authorized, under the direction of the Governor, to issue bonds
in the name of and on behalf of the State in an amount not
exceeding $25,400,000 to raise funds to develop and redevelop
commercial facilities, to assist Maine businesses that
demonstrate an ability to create jobs and repay obligations but
do not have sufficient access to credit, to assist regional
economic development agencies to relend for the purpose of
creating or retaining jobs, to leverage federal funding to
redevelop the naval base in Winter Harbor and Gouldsboro into an
education and research center and to construct 2 facilities to
support Maine businesses through product development and testing,
as authorized by section 6. The bonds are a pledge of the full
faith and credit of the State. The bonds may not run for a
period longer than 10 years from the date of the original issue
of the bonds. At the discretion of the Treasurer of State, with
the approval of the Governor, any issuance of bonds may contain a
call feature.

Sec. 2. Records of bonds issued to be kept by the Treasurer of State. The
Treasurer of State shall keep an account of each bond showing the
number of the bond, the name of the successful bidder to whom
sold, the amount received for the bond, the date of sale and the
date when payable.

Sec. 3. Sale; how negotiated; proceeds appropriated. The Treasurer of State
may negotiate the sale of the bonds by

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