Maine Drinking Water Bond Act (1996)
From Ballotpedia
Maine Question 7, also known as An Act to Authorize a General Fund Bond Issue in the Amount of $10 Million to Construct Water Pollution Control Facilities and to Address Environmental Health Deficiencies in Drinking Water Supplies, was on the November 5, 1996 election ballot in Maine. It passed, with 63.3% of voters in favor.
Text of the proposal
The language that appeared on the ballot:
This Act would authorize the State to issue bonds in an amount not to exceed $10,000,000 to raise funds to construct water pollution control facilities and to address environmental health deficiencies in drinking water supplies. The bonds would run for a period of not longer than 10 years and would be backed by the full faith and credit of the State.
Proceeds of the sale of the bonds would be expended as follows: $8,000,000 under the direction of the Department of Environmental Protection for the construction of water pollution control facilities to provide the State match for $10,000,000 in federal funds, and $2,000,000 under the direction of the Department of Human Services to address environmental health deficiencies in drinking water supplies.
If approved, the bond authorization would take effect 30 days after the Governors proclamation of the vote.
A statement of the Treasurer describing the financial considerations of this bond issue is published together with this statement.
A "YES" vote approves the authorization of a $10,000,000 bond issue for the construction of water pollution control facilities and to address environmental health deficiencies in drinking water supplies.
A "NO" vote disapproves the bond issue.
Total Estimated Debt Service of $12,942,500, of which Principal is $10,000,000, Estimated Interest at 5.35% over 10 years is $2,942,500.
See also
External links
- Citizen's guide to the November 5, 1996 Maine ballot questions
- November 5, 1996 Maine ballot question election results, Questions 5-8
- Votes on Maine bond questions
