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Maine Veterans' Mortgage Loans and School Building Authority Bond Issue Adjustments (1976)
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The Maine Veterans' Mortgage Loans and School Building Authority Bond Issue Adjustments Referendum was on the November 2, 1976 ballot in Maine as a legislatively referred constitutional amendment, where it was approved.[1] The measure increased the bonding limit on the Maine Veterans' Mortgage Loans from $2 million to $4 million and decreased the bonding limit of the Maine School Building Authority from $25 million to $10 million. This amended Section 14-C and Section 14-E of Article IX of the Maine Constitution.[2]
Background
State guaranteed loans offered through the Maine School Building Authority for the construction of school projects were authorized in 1969. Similar loans for veterans' housing were established by a 1972 legislatively referred constitutional amendment.
Aftermath
The bonding limit of the Maine School Building Authority was further reduced to $10 million in 1981. In 1984, a legislatively referred constitutional amendment empowered the legislature to determine what share of a mortgage loan may be insured by the state under the Maine Veterans Loan Guarantee Program. It also allowed for the extension of the program to include loans to any business owned in whole or in part by a resident Maine veteran.[1][3][4]
Election results
| Maine Bond Issue Adjustments Referendum (1976) | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
 Yes | 247,499 | 59.27% | ||
| No | 170,083 | 40.73% | ||
Election results via: Maine State Law and Legislative Reference Library, Proposed Constitutional Amendments 1820-
Text of measure
- See also: Maine Constitution, Article IX, Section 14-C and Section 14-E
The language appeared on the ballot as:[2]
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"Shall the Constitution be amended as proposed by a resolution of the Legislature to increase the bonding limit on Maine veterans' mortgage loans from $2,000,000 to $4,000,000 and to decrease the bonding limit of the Maine School Building Authority from $25,000,000 to $10,000,000?" [5] |
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Similar measures
- Maine State Insured School Building Authority Loans, Proposed Constitutional Amendment No. 4 (1969)
- Maine State Guaranteed Loans for Veteran Housing, Proposed Constitutional Amendment No. 2 (1972)
- Maine School Building Authority Bond Issue Adjustment, Proposed Constitutional Amendment No. 3 (1981)
- Maine Extend Veterans Loan Guarantee Program to Businesses, Constitutional Amendment 7 (1984)
See also
- Maine 1976 ballot measures
- 1976 ballot measures
- List of Maine ballot measures
- History of Initiative & Referendum in Maine
External links
- Lewiston Daily Sun, "Specimen Ballot," October 28, 1975
- Maine State Law and Legislative Reference Library, Proposed Constitutional Amendments 1820-
- National Conference of State Legislatures, State Ballot Measures Database
Footnotes
- ↑ 1.0 1.1 Maine State Law and Legislative Reference Library, "Proposed Constitutional Amendments 1820-," accessed April 17, 2014
- ↑ 2.0 2.1 Constitutional Resolutions of the State of Maine as Passed by the One Hundred and Seventh Legislature, "Chapter 8," accessed April 17, 2014
- ↑ Bangor Daily News, "State of Maine Special Election November 6, 1984: Important Notice to All Voters of the State of Maine," October 30, 1984
- ↑ Constitutional Resolutions of the State of Maine as Passed at the Second Regular Session of the One Hundred and Eleventh Legislature, 1983, "Chapter 6," accessed April 24, 2014
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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State of Maine Augusta (capital) |
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