Maine Business Financing Programs, Question 5 (1994)

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The Maine Business Financing Programs Bond Issue, also known as Question 5, was on the November 8, 1994 ballot in Maine as a legislatively-referred bond question, where it was approved.[1] The measure issued $15 million in bonds to create and retain jobs through the establishment of community, regional and state business financing programs. Specifically, $10 million was appropriated to a newly created Regional Economic Development Revolving Loan Program and $5 million to continue the Economic Recovery Program, which assisted small businesses in remaining economically viable. The estimated interest on the bond at 7.75 percent over 10 years was $6,393,750.[2]

Election results

Maine Question 5 (1994)
ResultVotesPercentage
Approveda Yes 249,699 51.65%
No233,78448.35%

Election results via: Maine State Law and Legislative Reference Library, Votes on Maine Bond Issues, 1951-

Text of measure

The language appeared on the ballot as:[2]

Question 5: Bond Issue

"Do you favor a $15,000,000 bond issue to create and retain Maine jobs through the establishment of community, regional and state business financing programs?" [3]

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