Sec. I-1. PL 2009, c. 414, Pt. B, §1 is amended to read:
Sec. B-1. Authorization of bonds. The Treasurer of State is authorized, under the direction of the Governor, to issue bonds in the name and on behalf of the State in an amount not exceeding $25,000,000 $23,750,000 for the purposes described in section 6 of this Part. The bonds are a pledge of the full faith and credit of the State. The bonds may not run for a period longer than 10 years from the date of the original issue of the bonds. At the discretion of the Treasurer of State, with the approval of the Governor, any issuance of bonds may contain a call feature.
Sec. I-2. PL 2009, c. 414, Pt. B, §6 is amended to read:
Sec. B-6. Allocations from General Fund bond issue. The proceeds of the sale of the bonds authorized under this Part must be expended as designated in the following schedule.
|MAINE HISTORIC PRESERVATION COMMISSION|
|Establishes a revolving fund for the purpose of acquiring significant historic properties.||$1,500,000 $1,250,000|
|DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT|
|Provides funds to make investments under the Communities for Maine’s Future Program in competitive community and economic revitalization projects, which must be matched with at least $3,500,000.||$3,500,000|
|Maine Technology Institute|
|Provides funds for research and development and commercialization as prioritized by the Office of Innovation’s current Science and Technology Action Plan for Maine. The funds must be allocated to environmental and renewable energy technology, biomedical an and biotechnology, aquaculture and marine technology, composite materials technology, advanced technologies for forestry and agriculture, information technology and precision manufacturing technology through a competitive process and must be awarded to Maine-based public and private institutions and must be awarded to leverage matching funds of at least $3,000,000.||$3,000,000|
|Brunswick Naval Air Station Redevelopment|
|Provides for redevelopment projects at the Brunswick Naval Air Station, including the rehabilitation of buildings, federal Americans with Disabilities Act and fire code compliance and other site improvements, including up to $4,750,000 for the development of a higher education engineering and economic development center. These funds will leverage $32,500,000 in federal funds.||$8,000,000|
|FINANCE AUTHORITY OF MAINE|
|Provides grants for food processing for fishing, agricultural, dairy and lumbering industries within the State.||$1,000,000|
|Economic Recovery Loan Program||$3,000,000|
|Small Enterprise Growth Fund|
|Provides funds for disbursements to qualifying small businesses in the State seeking to pursue eligible projects.||$5,000,000 $4,000,000|
Sec. I-3. PL 2009, c. 414, Pt. B, §10 is amended to read:
Sec. B-10. Referendum for ratification; submission at election; form of question; effective date. This Part must be submitted to the legal voters of the State at a statewide election held in June 2010 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 Part by voting on the following question:
"Do you favor a $25,000,000 $23,750,000 bond issue to provide capital investment to stimulate economic development and job creation by making investments under the Communities for Maine’s Future Program and in historic properties; providing funding for research and development investments awarded through a competitive process; providing funds for disbursements to qualifying small businesses; and providing grants for food processing for fishing, agricultural, dairy and lumbering businesses within the State and redevelopment projects at the Brunswick Naval Air Station that will make the State eligible for over $39,000,000 in federal and other matching funds?"
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. If a majority of the legal votes are cast in favor of this Part, the Governor shall proclaim the result without delay and this Part 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 Part necessary to carry out the purposes of this referendum.