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Maine Transportation Improvements, Question 4 (1997)

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The Maine Transportation Improvements Bond Issue, also known as Question 4, was on the November 4, 1997 ballot in Maine as a legislatively-referred bond question, where it was approved.[1] The measure issued $56.85 million in bonds for improvements to municipal and state roads, state and local bridges, airports, state ferry vessels and terminals and rail and marine facilities. These bonds made Maine eligible for $129.74 million in matching federal funds.[2]

Election results

Maine Question 4 (1997)
ResultVotesPercentage
Approveda Yes 267,721 77.85%
No76,18522.15%

Election results via: Maine State Law and Legislative Reference Library, Votes on Maine Bond Issues, 1951-

Text of measure

The language appeared on the ballot as:[2]

Question 4: Bond Issue

Do you favor a $56,850,000 bond issue for improvements to municipal and state roads, state and local bridges, airports, state ferry vessels and terminals and rail and marine facilities that makes the State eligible for approximately $129,740,000 in matching federal funds? [3]

Intent and content

The following description of the intent and content of this measure was provided in the Citizen's Guide to the referendum election:

This Act would authorize the State to issue bonds in an amount not to exceed $56,850,000 to raise funds to match available federal funds for surface, air, water and rail transportation improvements. 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 of the sale of the bonds would be expended by the State Department of Transportation and would be used to match federal funds for the local road assistance program ($13,500,000), state and local bridges ($23,800,000), collector roads and bridges ($3,000,000), highway and bridge improvements and collector road award program ($9,550,000), airport improvements ($1,500,000), ferry vessels and terminal improvements ($710,000), marine and harbor facility improvements ($1,440,000) and rail facility improvements ($3,350,000).

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 the authorization of a $56,850,000 bond issue for surface, air, water and rail transportation improvements.

A "NO" vote disapproves the bond issue.

Total estimated life time cost is $88,785,487.50 representing $56,850,000.00 in principal and $31,935,487.50 in interest (assuming interest at 5.35% over 20 years). [3]

—Maine Secretary of State, [2]

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