Maine LD1424: An Act to Authorize a General Fund Bond Issue for Investment in Workforce Housing and Raise Certain Income Eligibility Limits in

What the bill says

An Act to Authorize a General Fund Bond Issue for Investment in Workforce Housing and Raise Certain Income Eligibility Limits in the Affordable Homeownership Program Reference to the Committee on Appropriations and Financial Affairs suggested and ordered printed. DAREK M. GRANT Secretary of the Senate Presented by President DAUGHTRY of Cumberland. Cosponsored by Representative GATTINE of Westbrook and Senators: BENNETT of Oxford, CURRY of Waldo, PIERCE of Cumberland. Printed on recycled paper Preamble…

From the introduced text:

An Act to Authorize a General Fund Bond Issue for Investment in Workforce Housing and Raise Certain Income Eligibility Limits in the Affordable Homeownership Program Reference to the Committee on Appropriations and Financial Affairs suggested and ordered printed. DAREK M. GRANT Secretary of the Senate Presented by President DAUGHTRY of Cumberland. Cosponsored by Representative GATTINE of Westbrook and Senators: BENNETT of Oxford, CURRY of Waldo, PIERCE of Cumberland. Printed on recycled paper Preamble. Two thirds of both Houses of the Legislature deeming it necessary in accordance with the Constitution of Maine, Article IX, Section 14 to authorize the issuance of bonds on behalf of the State of Maine to provide funds as described in this Act, Be it enacted by the People of the State of Maine as follows: PART A Sec. A-1. Authorization of bonds. The Treasurer of State is authorized, under the direction of the Governor, to issue bonds in the name and on behalf of the State in an amount not exceeding $10,000,000 for the purposes described in section 5 of this Part. The bonds are a pledge of the full faith and credit of the State. The bonds may not run for a period longer than 10 years from the date of the original issue of the bonds. Sec. A-2. Records of bonds issued; Treasurer of …

Read the full official text