Maine Question 5, Business Financing Programs Bond Measure (1994)
| Maine Question 5 | |
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| Election date |
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| Topic Bond issues and Public economic investment policy |
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| Type Bond issue |
Origin |
Maine Question 5 was on the ballot as a bond issue in Maine on November 8, 1994. It was approved.
A "yes" vote supported issuing $15 million in bonds to create and retain jobs through the establishment of community, regional and state business financing programs, with specifically $10 million appropriated to a newly created Regional Economic Development Revolving Loan Program and $5 million to continue the Economic Recovery Program. |
A "no" vote opposed issuing $15 million in bonds to create and retain jobs through the establishment of community, regional and state business financing programs, with specifically $10 million appropriated to a newly created Regional Economic Development Revolving Loan Program and $5 million to continue the Economic Recovery Program. |
Election results
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Maine Question 5 |
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| Result | Votes | Percentage | ||
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249,699 | 51.65% | ||
| No | 233,784 | 48.35% | ||
Text of measure
Ballot title
The ballot title for Question 5 was as follows:
| “ | Do you favor a $15,000,000 bond issue to create and retain Maine jobs through the establishment of community, regional and state business financing programs? | ” |
Path to the ballot
In Maine, voter approval is required for state bond issues that exceed $2 million, with exceptions to bonds for the purpose of suppressing insurrection, repelling invasion, or for purposes of war, as well as for temporary loans paid out of money raised by taxation during the fiscal year which they are made, or for loans to be paid within 12 months with federal transportation funds.
A two thirds majority (66.67%) vote is required during one legislative session for the Maine State Legislature to place a bond issue on the ballot. That amounts to a minimum of 101 votes in the Maine House of Representatives and 24 votes in the Maine State Senate, assuming no vacancies. State bond issues require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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State of Maine Augusta (capital) |
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