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Bond Authorizations to Be Considered By the Legislature

AUGUSTA, Maine — Legislative leaders have allowed two bills into the second session addressing how bonds are authorized. At issue is Governor Paul LePage not signing off on some bonds for the Land For Maine's Future program.

One measure takes the sign off requirement by the governor off the books, but Sen. Roger Katz, a republican from Augusta is sponsoring a second bill that is more comprehensive.

"The Controller, for instance, who is also required to sign off on these bills, might decide not to do so, there are a number of loopholes at least in the existing bill that this would help close," Katz says.

He says he worked with State Treasurer Terry Hayes to draft the legislation which he believes will change the bond issuance process to make sure when voters approve borrowing for a project the bonds are sold to invest in that program.

"This bill was developed in close consultation with our Treasurer; it is somewhat more comprehensive in scope. It closes some loopholes that the other bill might unwittingly allow."

The Second Regular Session of the 127th Maine State Legislature will convene on Wednesday, January 6, 2016.

Journalist Mal Leary spearheads Maine Public's news coverage of politics and government and is based at the State House.