LD 1875
pg. 2
Page 1 of 3 An Act To Authorize Department of Transportation Bond Issues in the Amount of $... Page 3 of 3
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LR 2799
Item 1

 
Highway Fund

 
Highways and Bridges$13,500,000

 
__________

 
Highway Fund Total$13,500,000

 
General Fund

 
Ferry Vessels, Port Facilities and

 
Marine Infrastructure$2,150,000

 
Railroad and Intermodal Facilities1,700,000

 
Airports250,000

 
Trail and Pedestrian Facilities650,000

 
__________

 
General Fund Total$4,750,000

 
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 and Highway 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 an $18,250,000 bond issue for improvements to and
development of highways and bridges; airports; ferry vessels,
port facilities and marine infrastructure; rail corridors and
structures; intermodal facilities; and trail


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