Maine Transportation Improvements, Question 2 (2005)

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The Maine Transportation Improvements Bond Issue, also known as Question 2, was on the November 8, 2005 ballot in Maine as a legislatively-referred bond question, where it was approved. The measure issued $33.1 million in bonds for transportation improvements. The funds made these state eligible for over $158 million in matching funds. The improvements were to be made to highways, bridges, airports, public transit, ferry vessels, port facilities and bicycle trails.[1][2]

Election results

Maine Question 2 (2005)
ResultVotesPercentage
Approveda Yes 270,486 67.48%
No130,35232.52%

Election results via: Maine Secretary of State, Elections Division: Referendum Election Tabulations, November 8, 2005

Text of measure

The language appeared on the ballot as:[1]

Question 2: Bond Issue

Do you favor a $33,100,000 bond issue for improvements to highways and bridges; airports; public transit improvements; state-owned ferry vessels and ferry and port facilities including port and harbor structures; and statewide bicycle trail and pedestrian improvements that makes the State eligible for over $158,000,000 in matching funds? [3]

Summary

The following description of the intent and content of this ballot measure was provided in the Maine Citizen's Guide to the Referendum Election:

This Act would authorize the State to issue bonds in an amount not to exceed $33,100,000 to raise funds for a variety of transportation projects. 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.

Proceeds of the sale of the bonds would be expended by the Department of Transportation for the following projects in the following amounts: $27,000,000 on highway and bridge improvements; $3,500,000 for improvements to state-owned ferries and ferry and port facilities, including rebuilding the bulkhead at the Gulf of Maine Research Institute and the pier at Fort Preble in South Portland; $1,700,000 on airport projects, including $450,000 for the Presque Isle Airport, $250,000 for small airport projects and $1,000,000 for all other airports; $500,000 on transit and bus facilities; and $400,000 to support local community bicycle and pedestrian trails. These projects would be matched by federal funds.

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 of this bond issue is published together with this statement.

A “YES” vote approves authorization of a $33,100,000 bond issue to finance all of the above activities.
A “NO” vote disapproves the bond issue in its entirety.

[3]

Maine Secretary of State, [1]

Fiscal note

The estimated total lifetime cost of the bonds was $42,930,700, with $33,100,000 in principal and $9,830,700 in interest, assuming 5.4 percent over 10 years.[1] The following is the state treasurer's statement that accompanied the Maine Citizen's Guide to the Referendum Election outlining the current bonded debt of the state as of June 30, 2005.

ME2005Nov Ballot Treasurer Statement.PNG

[3]

—David Lemoine, Treasurer of State, [1]

Path to the ballot

Questions 2, 3, 4, 5 and 6 of the November 8, 2005 ballot were all contained within one single legislative act, the full text of which can be read here. It was approved on August 8, 2005 as Chapter 462 of the Public Laws of 2005.[1]

See also

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