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Maine Public Broadcasting Corporation Bond Act, Question 5 (1999)

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Maine Question 5 was on the November 2, 1999 election ballot in Maine. It passed, with 64.3% of voters in favor.

Election results

Maine Question 5 1999
Approveda Yes 264,653 64.3%

Text of measure

The language that appeared on the ballot:

Do you favor a $9,400,000 bond issue for the conversion to digital broadcasting by the Maine Public Broadcasting Corporation?

This Act would authorize the State to issue bonds in an amount not to exceed $9,400,000 to raise funds for the conversion to digital broadcasting by Maine Public Broadcasting Corporation. The bonds would run for a period of not longer than 10 years from the date of issue and would be backed by the full faith and credit of the State.

The proceeds from the sale of the bonds would be expended by Maine's Public Broadcasting Corporation to be used to implement the federally mandated conversion to digital broadcasting.

Total estimated life time cost is $11,778,200 representing $9,400,000 in principal and $2,378,200 in interest (assuming interest at 4.60% over 10 years).

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