Bill > LD2043

This bill increases the debt limit of the Ogunquit Sewer District, a local government entity responsible for managing wastewater infrastructure in Ogunquit, Maine, from $12 million to $17 million. The change allows the district's board of trustees to borrow additional funds without requiring a district-wide vote, enabling them to raise money through governmental aid and by issuing bonds or notes. The bill specifies that the total outstanding principal balance cannot exceed $17 million at any given time, unless a higher debt limit is established under state law. The legislation provides the sewer district with more financial flexibility to fund infrastructure improvements, maintenance, or expansion of its wastewater management services, while maintaining oversight through existing legal procedures that govern municipal borrowing.

Transportation and Infrastructure

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=2043&snum=132