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Maine Tire Stockpile Cleanup Bond, Question 2 (1997)

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Maine Question 2' was on the November 4, 1997 election ballot in Maine. It passed, with 68.7% of voters in favor.

Election results

Maine Question 2
ResultVotesPercentage
Approveda Yes 236,170 68.71%
No107,52631.29%

Text of measure

The language that appeared on the ballot:

Do you favor a $7,000,000 bond issue, which will match $15,000,000 in federal funds, to construct water pollution control facilities, to clean up tire stockpiles and to make drinking water improvements?

This Act would authorize the State to make two issues of bonds in an amount not to exceed $13,000,000 to raise funds to construct water pollution control facilities, to close and clean up municipal solid waste landfills, to clean up tire stockpiles, to mitigate storm water pollution through a comprehensive watershed protection program, and to make drinking water improvements. The bonds run for a period of not longer than 5 years and would be backed by the full faith and credit of the State.

The first bond issue, in an amount not to exceed $7,000,000, will be voted on at the November 4, 1997, Election. Proceeds of the sale of the first bond issue would be expended as follows: $4,500,000 under the direction of the Department of Environmental Protection for the construction of water pollution control facilities and to provide the state match for $12,500,000 in federal funds; $2,000,000 under the direction of the Department of Environmental Protection to clean up tire stockpiles, and $500,000 under the direction of the Department of Human Services to address environmental health deficiencies in drinking water supplies and to provide the state match for $2,500,000 in federal funds.

The second bond issue, in an amount not to exceed $6,000,000, will be sent to the voters at the June 9, 1998, Primary Election.

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

A statement of the Treasurer describing the financial considerations to the bond issue is published together with this statement.

A "YES" vote approves the authorization of the first bond issue for $7,000,000 for the construction of water pollution control facilities, to clean up tire stockpiles and to make drinking water improvements.

A "NO" vote disapproves the first bond issue.

Total estimated life time cost is $7,924,000.00 representing $7,000,000.00 in principal and $924,000.00 in interest (assuming interest at 4.40% over 5 years).

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