Maine Question 4, Bond Issue to Fund Research, Economic Growth, and Education Measure (2005)

Maine Question 4
Election date November 8, 2005
Topic Bond issues
Status Approved
Type Bond issue	Origin State legislature

Maine Question 4 was on the ballot as a bond issue in Maine on November 8, 2005. It was approved.

A "yes" vote supports permitting the government to issue $20 million in bonds, with the revenue to be distributed between:  the Maine Biomedical Research Fund; the Maine Infrastructure and Technology Fund;  the Small Enterprise Growth Fund;  the New Century Community Program Fund;  the Sunrise Business and Career Center in the Town of Jonesboro; the Laboratory for Surface Science & Technology of the University of Maine; and the career center at the University of Southern Maine’s Lewiston-Auburn College.

A "no" vote opposes permitting the government to issue $20 million in bonds.

Election results

Maine Question 4
Result		Votes	Percentage
Yes		232,563	58.41%
No		165,607	41.59%

Results are officially certified.

Source

Text of measure

Ballot title

The ballot title for Question 4 was as follows:

“

Do you favor a $20,000,000 bond issue to stimulate economic growth and job creation through investments in the Maine economy in anticipation of approximately $44,000,000 in federal and private funds for medical research and development; marine research and development; equity investments in small Maine companies with potential for high growth; the New Century Community Program for capital improvements to cultural resources; the renovation of Camden Hall on the University of Maine Bangor campus for a graduate school for biomedical science; the development of the Laboratory for Surface Science Technology; capital costs and equipment for the career center facility at the University of Southern Maine's Lewiston-Auburn College; and the development of the Sunrise Business and Career Center in the Town of Jonesboro?

”

Full Text

The full text of this measure is available here.

Fiscal note

The estimated total lifetime cost of the bonds was $25,940,000, with $20,000,000 in principal and $5,940,000 in interest, assuming 5.4 percent over 10 years. 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.

“		”
—David Lemoine, Treasurer of State

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

2005 Measures

• 2005 Measures
• Bond issues on the ballot
• 2005 legislative sessions

Maine

• Maine ballot measures
• Maine ballot measure laws

News and analysis

• Ballot measure lawsuits
• Ballot measure readability
• Ballot measure polls

External links

• Maine Law and Legislative Digital Library Home - Election Returns
• Maine Referendum Guide - 2005