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Maine Maritime Academy Bond, Question 6 (2001)

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Maine Question 6 was on the November 7, 2001 election ballot in Maine as a legislatively-referred state statute where it was approved.

Question 6 authorized a $36.7 million bond issue for spending on Maine's public universities, including the Maine Maritime Academy.


Election results

Question 6
ResultVotesPercentage
Approveda Yes 124,395 57.7%
No91,23842.3%

Text of measure

Maine maritime.JPG

The question asked on the ballot was, "Do you favor a $36,700,000 bond issue to make improvements to the State's public universities, the Maine Maritime Academy and other public learning centers?"

This Act would authorize the State to issue bonds in an amount not to exceed $36,700,000 to raise funds for improvements to the state's public universities, technical colleges and learning centers, and the Maine Maritime Academy. The bonds would run for a period not longer than 10 years from the date of issue and would be backed by the full faith and credit of the State.

The University of Maine System would be authorized to expend the proceeds of the sale of these bonds in the amount of $31,500,000 to pay a portion of the construction costs for the following projects: an arts center at the University of Maine ($4,000,000); an education classroom facility at the University of Maine at Farmington ($4,800,000); a health and physical education complex at the University of Maine at Presque Isle ($5,600,000); a technology classroom and student center facility at the University of Maine at Augusta ($4,000,000); a health/tech center connector building and the renewal of a library/classroom at the University of Maine at Fort Kent ($3,200,000); and a community education facility and the renewal of a library/classroom at the University of Southern Maine ($8,000,000). It would also cover the cost of renovating and equipping classroom space at the Western Maine University Center ($1,800,000) and the Calais Center ($100,000).

The Maine Maritime Academy would be authorized to expend up to $4,000,000 of the bond proceeds to pay a portion of the costs to construct and renovate dormitories, classrooms and laboratories.

The Maine Technical College System would be authorized to expend of the remaining $1,200,000 in bond proceeds to renovate and equip classroom space at the Bath Higher Education Center ($1,000,000) and at the Katahdin Area K-Tech Center ($200,000).

If approved, the bond authorization would take effect 30 days after the Governor's proclamation of the vote.

A "YES" vote approves the authorization of a $36,700,000 bond issue to finance improvements to the state's public universities, technical colleges and learning centers, and the Maine Maritime Academy.

A "NO" vote disapproves the bond issue.

Total estimated life time cost is $46,641,113 representing $36,700,000 in principal and $9,941,113 in interest (assuming interest at 4.93% over 10 years).


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