LD 1812
pg. 2
Page 1 of 3 An Act To Authorize a General Fund Bond Issue in the Amount of $1,000,000 for t... Page 3 of 3
Download Bill Text
LR 2552
Item 1

 
Renovate the Millinocket Municipal Airport in
order to bring the airport into compliance
with Federal Aviation Administration
requirements; study the potential advantages
of expanding the service area of the airport
through regionalization; conduct a feasibility
study on improving access to the airport; and
study any infrastructure improvements
necessary to accommodate the construction of
an airport industrial park.

 
Sec. 7. Contingent upon ratification of bond issue. Sections 1 to 6 do not
become effective unless the people of the State ratify 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 general election; form of question;
effective date. This Act must be submitted to the legal voters of the
State at the next general election in the month 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 general election, to vote on the acceptance or
rejection of this Act by voting on the following question:

 
"Do you favor a $1,000,000 bond issue to renovate the
Millinocket Municipal Airport in order to bring the airport
into compliance with Federal Aviation Administration
requirements, to study the potential advantages of expanding
the service area of the airport through regionalization, to
conduct a study on improving access to the airport and to
study any infrastructure improvements necessary to
accommodate the construction of an airport industrial park?"


Page 1 of 3 Top of Page Page 3 of 3