Maine Pollution Abatement Facilities, Referendum Question No. 8 (1969)
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The Maine Pollution Abatement Facilities Bond Issue, also known as Referendum Question No. 8, was on the November 4, 1969 ballot in Maine as a legislatively referred bond question, where it was approved.[1] The measure issued $50 million in bonds for the planning, construction and equipment of pollution abatement facilities.[2]
Background
In 1964, a legislatively referred bond question originally issued $25 million in bonds to fund pollution abatement facilitates.[1][3] Then, also on the ballot in 1969, a measure was approved to increase in the interest rate for these state bonds from five to six percent. That measure was placed on the ballot because the contemporary bond market was not favorable to low interest bonds. It was unlikely that bonds authorized but unissued in the amount of $16 million for this water pollution abatement payments measure and $250 thousand for the development of the Allagash Wilderness Waterway could be sold at an interest rate of 5 percent. Without raising the interest rate, it was likely the bonds would have gone unsold and these projects could not have been continued.[4]
Aftermath
The interest rate limit on these bonds was completely repealed in 1970 by another legislatively referred bond question. According to the Attorney General's explanatory statement on the measure, the unissued balance of bonds remained $16,000,000. It was unlikely that the bonds could be sold at their limited interest rate of six percent. The measure removed that interest limitation making the bonds more marketable.[5]
Election results
| Maine Referendum Question No. 8 (1969) | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
 Yes | 75,790 | 53.11% | ||
| No | 66,921 | 46.89% | ||
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]
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"Shall a bond issue be ratified for the purposes set forth in 'An Act to Authorize General Fund Bond Issue in Amount of Fifty Million Dollars and to Appropriate Moneys for the Planning, Construction and Equipment of Pollution Abatement Facilities,' passed by the 104th Legislature?" [6] |
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Similar measures
- Maine Pollution Abatement Facilities, Referendum Question (1964)
- Maine Water Pollution Abatement Interest Repeal, Referendum Question No. 4 (1970)
- Maine Pollution Abatement and Hazardous Waste Clean Up, Bond Issue (1984)
See also
- Maine 1969 ballot measures
- 1969 ballot measures
- List of Maine ballot measures
- History of Initiative & Referendum in Maine
External links
- Lewiston Daily Sun, "Specimen Ballot," October 28, 1969
- Maine State Law and Legislative Reference Library, Votes on Maine Bond Issues, 1951-
- National Conference of State Legislatures, State Ballot Measures Database
Footnotes
- ↑ 1.0 1.1 Maine State Law and Legislative Reference Library, "Votes on Maine Bond Issues, 1951-," accessed April 14, 2014
- ↑ 2.0 2.1 Lewiston Daily Sun, "Specimen Ballot," October 28, 1969
- ↑ The Lewiston Daily Sun, "Specimen Ballot," October 26, 2014
- ↑ Private and Special Laws of the State of Maine As Passed by the One Hundred and Fourth Legislature 1969, "Chapter 195," accessed April 14, 2014
- ↑ Lewiston Daily Sun, "Specimen Ballot," October 27, 1970
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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