Maine Question 2, Bond Issue to Fund Loans and Grants, Medical Research, and Develop Buildings Measure (June 2002)
| Maine Question 2 | |
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| Topic Bond issues and Public economic investment policy |
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| Type Bond issue |
Origin |
Maine Question 2 was on the ballot as a bond issue in Maine on June 11, 2002. It was approved.
A "yes" vote supported issuing $34.97 million in bonds to issue loans and grants to municipalities, fund business financing programs, develop commercial and industrial buildings in Maine, and fund research and development in Maine-based medical institutions, among other uses. |
A "no" vote opposed issuing $34.97 million in bonds to issue loans and grants to municipalities, fund business financing programs, develop commercial and industrial buildings in Maine, and fund research and development in Maine-based medical institutions, among other uses. |
Election results
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Maine Question 2 |
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| Result | Votes | Percentage | ||
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94,128 | 51.41% | ||
| No | 88,965 | 48.59% | ||
Text of measure
Ballot title
The ballot title for Question 2 was as follows:
| “ | Do you favor a $34,970,000 bond issue to stimulate job growth, renovate buildings, defend against terrorism in Maine and promote tourism? The bonds would be used for the following purposes: 1. Funds of $4,000,000 for the Municipal Investment Trust Fund to provide loans and grants to municipalities for public infrastructure to support economic development and other purposes of the fund; 2. Funds of $8,000,000 to the Finance Authority of Maine to create and retain Maine jobs through the funding of community, regional and state business financing programs; 3. Funds of $540,000 for the protection of the lives and property of Maine citizens; 4. Funds of $6,000,000 to capitalize the Maine Rural Development Authority to facilitate job creation through the development and redevelopment of commercial and industrial buildings in Maine; 5. Funds of $400,000 for renovation of buildings and associated infrastructure at the Schoodic Education and Research Center. State bond funds will match $4,000,000 in federal funds; 6. Funds of $5,000,000 for the construction of a facility for product development and support that will provide the University of Maine with the resources needed to help solve daily manufacturing and engineering problems; 7. Funds of $4,000,000 for the construction of a facility for product development and support that will provide the University of Southern Maine with the resources needed to help solve daily manufacturing and engineering problems; 8. Funds of $5,500,000 for medical research and development by Maine-based biomedical research institutions in order to obtain matching federal funds for health research to cure disease and to retain Maine graduates by providing quality Maine jobs;
9. Funds of $1,000,000 for the planning and construction of the Franco-American Heritage Center at St. Mary's in Lewiston;
10. Funds of $30,000 to assist the Moosehead Marine Museum in the renovation of its flagship, the Katahdin; and
11. Funds of $500,000 for the renovation of the Center Theater in downtown Dover-Foxcroft. | ” |
Full Text
The full text of this measure is available here.
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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