Bill > LD293

This bill amends the existing legislation for the Boothbay Region Water District by increasing its debt limit from $12 million to $19 million. The bill allows the district's board of trustees to borrow money for various purposes, including acquiring and renovating water systems in Boothbay Harbor and East Boothbay, renewing and refunding water-related notes or bonds, paying expenses, acquiring properties, and making improvements to the water system. If the trustees want to authorize bonds or notes for capital costs of $500,000 or more, they must publish a notice in local newspapers. The bill also provides a mechanism for the trustees to propose a different debt limit through a districtwide referendum. During such a referendum, voters will be asked to approve a new debt limit, and if a majority of legal voters within the district support the change, the new limit will be implemented. The referendum will be conducted similarly to municipal elections, with the district bearing the costs of the vote.

Transportation and Infrastructure

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=293&snum=132