Bill > LD1913

This bill provides special authorization for Matinicus Isle Plantation, a small municipality in Maine, to address urgent infrastructure needs for its electric power generating facility. The legislation allows the plantation to issue general obligation bonds to cover costs related to acquisition, construction, reconstruction, improvement, extension, and equipment for the electric power generating facility. The bill modifies previous legal provisions by removing the previous limitation that the plantation could only raise up to 50% of the cost through taxation, and now allows them to raise sufficient funds to pay the principal and interest on the general obligation bonds. Additionally, the bill authorizes municipal officers to issue revenue bonds and establish, revise, and collect rates and fees for the electric power generating facility's services. The bill is classified as an emergency measure, which means it will take effect immediately upon approval, allowing the plantation to quickly address critical repairs to prevent potential power generation failure and ensure the continued provision of electricity to the community.

Budget and Finance, Transportation and Infrastructure

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1913&snum=132