Voters would decide whether Maine borrows for coastal grants

Maine could issue up to $75 million in bonds and use the money for coastal grants. Grants would go to county, municipal, and tribal governments, and regional councils, for coastal protection and engineered beach upgrades. The bond issue would take effect only if a majority of voters approve it in a statewide election. The Governor would direct the bond sale, and the money could be used only for the listed grants. The measure would go to voters at the statewide election in November following passage. If approved, it would take effect 30 days after the Governor proclaims the result. Bonds generally must be issued within five years of ratification, though the Legislature could extend that period by up to five years. Bond proceeds not spent within 10 years would be used to retire state bonds.