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Maine Vocational High School Bonds, Question 3 Primary (June 1998)

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A Vocational High School Bonds Ballot Question, listed as Question 3, was on the June 9, 1998 primary election ballot in Maine as a legislatively-referred state statute, where it was approved with 66.2% of voters in favor.Approveda
The Maine legislature referred a vocational high school bonds ballot measure to voters in 1998. The question was approved with 66.2% of the vote. The measure allowed vocational high schools, like the one above, to receive up to $5 million in bonds for capital expenses.

Election results

Question 3
Approveda Yes 91,170 66.2%

Text of measure

The language that appeared on the ballot:

Do you favor a $5 million bond issue for capital expenses for vocational high schools?

This Act would authorize the state to issue bonds in an amount not to exceed $5 million to raise funds for capital expenses of vocational high schools. The bonds would run for a period of not longer than 5 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 Education and would be used for capital expenses for vocational high schools.

Total estimated lifetime cost is $5,675,000 representing $5 million in principal and $675,000 in interest (assuming interest at 4.5% over 5 years).

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