AASHTO Journal, 10 July 2015
Maine voters will get a chance in November to approve $85 million in new bond funding for improvements to roads, bridges, ports and other transportation facilities.
Gov. Paul LePage signed the bill July 1 that will put the bond proposal on a November ballot.
In a July 6 press release, LePage said: “This critical investment of $85 million into Maine’s transportation system will assure thousands of contractors and construction workers with long-term job security and continuing paychecks, and in turn will strengthen Maine’s infrastructure and economy.”
Bernhardt at a recent bridge opening event.The measure would allow the state to issue bonds for up to 10 years’ maturity. If voters approve, the state would spend $17 million out of the $85 million in bond sales to build or upgrade high-priority highways, and $46 million on bridge replacements and rehabilitation.
It would also put $5 million into a Maine Department of Transportation program called the Municipal Partnership Initiative, under which Maine DOT spends up to $500,000 on individual projects of municipal interest on the state infrastructure system.
And the bill designates $17 million for various projects for ports, harbors and other marine transportation, plus aviation, transit, freight or passenger rail, and bicycle/walking trails.
“The citizens of Maine have always recognized the importance of a solid, well-built well maintained transportation infrastructure,” said Maine DOT Commissioner David Bernhardt. “I am confident when asked in November, the voters will continue to allow us to strengthen Maine’s economy and build a transportation system that will benefit generations to come,” he said.
LePage also said: “This bond is critical for the state to deliver on its current work plan commitments, which keep our transportation system strong.”
His announcement also said the bond package would help improve the International Marine Terminal in Portland to support a new transatlantic shipping line service that was recently established in Maine’s largest city. “This international connection benefits core Maine industries like fishing, agriculture and forest products,” the statement said.
The actual question to be put before voters also indicates the bond receipts would help leverage additional investments from federal funds or from other sources.
It reads: “Do you favor an $85,000,000 bond issue for construction, reconstruction and rehabilitation of highways and bridges and for facilities and equipment related to ports, harbors, marine transportation, freight and passenger railroads, aviation, transit and bicycle and pedestrian trails, to be used to match an estimated $121,500,000 in federal and other funds?”
Here is the complete bill text.
A separate legislative fiscal note shows that the state would issue $68 million in nontaxable bonds to cover the priority road, bridge and municipal projects, and $17 million in taxable bonds for the various other needs. It projects 10-year interest costs of nearly $19.2 million, to be paid out of the general fund.