LD 164, Page 1 - 121th Legislature, FIRST REGULAR Session

	Preamble. Two thirds of both Houses of the Legislature
deeming it necessary in accordance with the Constitution of
Maine, Article IX, Section 14 to authorize the issuance of
bonds on behalf of the State of Maine to provide funds as
described in this Act

Be it enacted by the People of the State of Maine as follows:

PART A

Sec. A-1. 30-A MRSA §6006-F, sub-§9 is enacted to read:

9.__Energy efficiency.__Fifteen percent of funds awarded to
the fund for renovation projects must be used to fund aspects
of the renovation that promote energy efficiency.

PART B

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 $30,000,000 to raise funds for the purpose of
increasing funds to the School Revolving Renovation Fund for
repairs and improvements to public schools to address serious
health, safety and compliance deficiencies, including those
related to indoor air quality, roof system integrity, asbestos
and accessibility; to support other repairs and improvements
related to the schools' structural integrity, heating system,
doors and windows; and to provide for other learning space
upgrades such as improvements to science laboratories and
vocational space and increased classroom flexibility as
authorized by 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. B-2. Records of bonds issued kept by Treasurer of State. The Treasurer of
State shall keep an account of each bond showing the number of
the bond, the name of the successful bidder to whom sold, the
amount received for the bond, the date of sale and the date
when payable.

Sec. B-3. Sale; how negotiated; proceeds appropriated. The Treasurer of
State may negotiate the sale of the bonds by direction of the
Governor, but no bond may be loaned, pledged or hypothecated
on behalf of the State. The proceeds of the sale of the
bonds, which must be held by the Treasurer of State and paid
by the Treasurer of State upon warrants drawn by the State

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