| | | 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. |
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| | | 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. |
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| | | 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 of Maine 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: |
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| | | "Do you favor a $25,550,000 bond issue to upgrade and | | renovate higher education laboratories, classrooms and | | dormitories of the Maine Maritime Academy, the Maine | | Technical College System and the University of Maine | | System?" |
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| | | 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 and, if a majority of the legal votes are cast in favor | | of this Act, the Governor shall proclaim the result without | | delay, and this Act becomes effective 30 days after the date of | | the proclamation. |
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| | | The Secretary of State shall prepare and furnish to each city, | | town and plantation all ballots, returns and copies of this Act | | necessary to carry out the purpose of this referendum. |
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| | | The funds provided by this bond issue, in the amount of | | $25,550,000, will be used to renovate higher education |
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