An Act To Authorize A General Fund Bond Issue To Fund The Maine Community College System

This bill authorizes the State of Maine to issue up to $50,000,000 in bonds to fund the Maine Community College System. The collected funds are designated for general repairs, deferred maintenance, modernization of campus buildings, and updates to educational equipment across all seven college campuses. The legislation requires approval from the state's legal voters through a referendum before the bond issue can proceed. If approved, the state Treasurer will manage the sale of the bonds and ensure the proceeds are used solely for the specified construction and equipment projects. Any unspent funds after ten years must be returned to the state Treasurer to pay off other state debts.