| | | Sec. 3. Sale; how negotiated; proceeds appropriated. The Treasurer of State | | may negotiate the sale of the bonds by direction of the Governor, | | but no bond may be loaned, pledged or hypothecated on behalf of | | the State. The proceeds of the sale of the bonds, which must be | | held by the Treasurer of State and paid by the Treasurer of State | | upon warrants drawn by the State Controller, are appropriated | | solely for the purposes set forth in this Act. Proceeds may be | | released to the State's public institutions of higher education | | and the Maine Maritime Academy only upon receipt by the Treasurer | | of State of evidence satisfactory to the Treasurer that the | | State's public institutions of higher education and the Maine | | Maritime Academy have complied with any requirement to establish | | and fund a maintenance account for office, laboratory or other | | building space to be constructed with the proceeds. Any | | unencumbered balances remaining at the completion of the projects | | in section 6 lapse to the debt service account established for | | the retirement of these bonds. |
|
| | | Sec. 4. Interest and debt retirement. The Treasurer of State shall pay | | interest due or accruing on any bonds issued under this Act and | | all sums coming due for payment of bonds at maturity. |
|
| | | Sec. 5. Disbursement of bond proceeds. The proceeds of the bonds must | | be expended as set out in section 6 under the direction and | | supervision of the University of Maine System, the Maine Maritime | | Academy and the Maine Technical College System. |
|
| | | Sec. 6. Allocations from General Fund bond issue for improvements at the State's | | public universities, the Maine Maritime Academy and other public learning centers. The | | proceeds of the sale of the bonds must be expended as designated | | in the following schedule. |
|
| | | To pay a portion of design and | | $4,000,000 |
|
| | | construction costs for the Arts |
|
| | | To pay a portion of the construction of an | | $4,800,000 |
|
| | | education classroom facility. |
|
| | | To pay a portion of the construction of | | $5,600,000 |
|
| | | a health and physical education complex. |
|
| | | To pay a portion of the construction of | | $4,000,000 |
|
| | | a technology classroom and student center |
|
| | | To pay a portion of the construction of | | $3,200,000 |
|
| | | a health/tech center connector building |
|
| | | and the renewal of a library/classroom. |
|
| | | UNIVERSITY OF SOUTHERN MAINE |
|
| | | To pay a portion of the construction of | | $8,000,000 |
|
| | | a community education facility and the |
|
| | | renewal of a library/classroom. |
|
| | | To pay a portion of the construction and | | $4,000,000 |
|
| | | renovation of dormitories, classrooms and |
|
| | | MAINE TECHNICAL COLLEGE SYSTEM |
|
| | | To renovate and equip classroom space at | | $1,000,000 |
|
| | | the Bath Higher Education Center. |
|
| | | UNIVERSITY OF MAINE SYSTEM |
|
| | | To renovate and equip classroom space at | | $1,800,000 |
|
| | | the Western Maine University Center. |
|
| | | MAINE TECHNICAL COLLEGE SYSTEM |
|
| | | To renovate and equip classroom space at | | $200,000 |
|
| | | the Katahdin Area K-Tech Center. |
|
| | | UNIVERSITY OF MAINE SYSTEM |
|
| | | To renovate and equip classroom space at | | $100,000 |
|
| | | Sec. 7. Contingent upon ratification of bond issue. Sections 1 to 6 do not | | become effective unless the people of the |
|
| | | State have ratified the issuance of the bonds as set forth in | | this Act. |
|
| | | Sec. 8. 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 10 years after the date of the sale of the bonds lapse to | | General Fund debt service. |
|
| | | Sec. 9. Bonds authorized but not issued. Any bonds authorized but not | | issued, or for which bond anticipation notes are not issued | | within 5 years of ratification of this Act, are deauthorized and | | may not be issued; except that the Legislature may, within 2 | | years after the expiration of that 5-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. 10. Referendum for ratification; submission at statewide election; form of | | question; effective date. This Act 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 respective cities, towns and plantations to | | meet, in the manner prescribed by law for holding a statewide | | election, to vote on the acceptance or rejection of this Act by | | voting on the following question: |
|
| | | "Do you favor a $36,700,000 bond issue to make improvements | | to the State's public universities, the Maine Maritime | | Academy and other public learning centers?" |
|
| | | The legal voters of each city, town and plantation shall vote | | by ballot on this question and designate their choice by a cross | | or check mark placed within a 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 a majority of the legal votes are cast in favor | | of this Act, the Governor shall proclaim the result without | | delay, and this Act becomes effective 30 days after the date of | | the proclamation. |
|
| | | The Secretary of State shall prepare and furnish to each city, | | town and plantation all ballots, returns and copies of this Act | | necessary to carry out the purpose of this referendum. |
|
|
