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| | | An Act to Authorize a General Fund Bond Issue in the Amount |
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| | | of $36,700,000 for the State's Public Universities, the |
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| | | Maine Maritime Academy and other Public Learning Centers |
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| | | 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 for the State's | | public universities, the Maine Maritime Academy and other public | | learning centers. |
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| | | Be it enacted by the People of the State of Maine as follows: |
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| | | Sec. 1. Authorization of bonds to provide for the State's public universities, the Maine | | Maritime Academy and other public learning centers. The Treasurer of State is | | authorized, under the direction of the Governor, to issue bonds | | in the name and on behalf of the State in an amount not exceeding | | $36,700,000 to raise funds for the State's public universities, | | the Maine Maritime Academy and other public learning centers 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. |
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| | | 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. |
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