LD 1888
pg. 2
Page 1 of 3 An Act To Authorize a General Fund Bond Issue in the Amount of $1,200,000 for t... Page 3 of 3
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LR 2652
Item 1

 
DOWNEAST INSTITUTE FOR APPLIED

 
MARINE RESEARCH AND EDUCATION

 
Provides funds to purchase the property$1,200,000

 
known as Black Duck Cove on Great Wass

 
Island, which includes a 9,000 square-

 
foot building, a working wharf and 2

 
lobster pounds, to serve as the home of

 
the Downeast Institute for Applied Marine

 
Research and Education.

 
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 $1,200,000 bond issue to purchase property
to serve as the home of the Downeast Institute for Applied
Marine Research and Education?"

 
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


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