Maine Hazardous Substances Bond, Question 2 (1998)
Text of measure
The language that appeared on the ballot:
This Act would authorize the State to issue bonds in an amount not to exceed $7,000,000 to raise funds to investigate, abate and mitigate hazardous substance discharges and to clean up tire stockpiles, as well as to raise funds to match available federal funds to construct water pollution control facilities and improvements for public drinking water supplies. The bonds would run for a period not longer than 5 years from the date of issue and would be backed by the full faith and credit of the State.
Proceeds of the sale of the bonds in the amount of $1,500,000 would be expended by the State Department of Human Services to construct improvements to public water supplies, thereby qualifying the State to receive an additional $7,100,000 in federal funds for that purpose. The remainder of the proceeds of the sale of the bonds would be expended by the State Department of Environmental Protection in the following amounts: $3,350,000 for the construction of water pollution control facilities, qualifying the State for $10,000,000 in matching federal funds; $1,000,000 for the cleanup of tire stockpiles; and $1,150,000 to investigate, abate and mitigate threats from the discharge of hazardous substances into the environment.
Total estimated life time cost is $7,861,000 representing $7,000,000 in principal and $861,000 in interest (assuming interest at 4.10% over 5 years).
- Citizen's guide to the Maine November 3, 1998 ballot measures
- Tabulation of the vote on the Maine November 3, 1998 ballot measures
- Bond issues on the Maine ballot