| | |
date. Within 2 years after expiration of that 5-year period, | | the Legislature may extend, by a majority vote, the 5-year | | period for an additional 5 years or may deauthorize the bonds. | | If the Legislature fails to take action within those 2 years, | | the bond issue shall be considered to be deauthorized and no | | further bonds may be issued. For any bond authorization in | | existence on November 6, 1984, and for which the 5-year period | | following ratification has expired, no further bonds may be | | issued unless the Legislature, by November 6, 1986, reauthorizes | | those bonds by a majority vote, for an additional 5-year period, | | failing which all bonds unissued under those authorizations | | shall be considered to be deauthorized. Temporary loans to be | | paid out of moneys raised by taxation during any fiscal year | | shall not exceed in the aggregate during the fiscal year in | | question an amount greater than 10% of all the moneys | | appropriated, authorized and allocated by the Legislature from | | undedicated revenues to the General Fund and dedicated revenues | | to the Highway Fund for that fiscal year, exclusive of proceeds | | or expenditures from the sale of bonds, or greater than 1% of | | the total valuation of the State of Maine, whichever is the | | lesser. |
|
| | | Constitutional referendum procedure; form of question; effective date. Resolved: That | | 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, at a statewide election, on the Tuesday | | following the first Monday of November following the passage | | of this resolution, to vote upon the ratification of the | | amendment proposed in this resolution by voting upon the | | following question: |
|
| | | "Do you favor amending the Constitution of Maine to | | increase the state bonding limit from $2,000,000 to | | $30,000,000 when the total outstanding debt of a public | | instrumentality of the State that acquires, constructs or | | improves buildings for use by the State is $30,000,000 or | | less, and that public instrumentality is prohibited from | | incurring any additional debt or liability?" |
|
| | | 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 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 |
|
|
