Maine Public Land Purchase Bond Act (1999)
From Ballotpedia
Maine Question 7 was on the November 2, 1999 election ballot in Maine. It passed, with 68.7% of voters in favor.
- Yes: 282,512
- No: 128,972
Text of the proposal
The language that appeared on the ballot:
Do you favor a $50,000,000 bond issue to purchase public lands and easements statewide from willing sellers for conservation, water access, outdoor recreation, including hunting and fishing, wildlife and fish habitat and farmland preservation?
This Act would authorize the State to issue bonds in an amount not to exceed $50,000,000 to raise funds for conservation, water access, outdoor recreation, wildlife and fish habitat and farmland preservation. The bonds must be matched with at least $25,000,000 in public and private contributions. The bonds would run for a period of not longer than 20 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 the State Planning Office for conservation, water access, outdoor recreation, wildlife and fish habitat and farmland preservation.
Total estimated life time cost is $76,250,000 representing $50,000,000 in principal and $26,250,000 in interest (assuming interest at 5.00% over 20 years).
See also
External links
- Citizen's guide to the November 2 ballot questions in Maine
- Referendum election in Maine, November 2
- Election results, Questions 7-9
- Votes on Maine bond questions
