HomeMy WebLinkAbout1998-09-14 98-371 RESOLVECOUNCIL ACTION_
Item No 98-371
Date: 9-/498
ItemBubject Resolvq Supporting November Bond Referendum to Fund Research and
Development Efforts of the University of Maine System
Responsible Department: City Council
Commentary:
This Resolve will put the City on mooed in support of thin Novembers Statebomd issue to provide 821)
million for University Systern Research and Development This fording will have both an immediate end
long-term effort First, mcent experience at the University of Maine has shown that these foods may
leverage up m four times this amount in federal and other grants. Second, these funds will support
eMencemant to Maine's existing industries and support me expansion of our economy into new high tech
areas. The overall result will be to improve Maine's economic performance, enhance income levels, and
bring new economic opportunities hies to our citizens.
I recommend your approvd
Managm's Commands:
Meactatod lnformetlen:
Resolve
Budget Approval: ---
Lege Approval:
Introduced for
x Passage
_Near Reading
_ Referral
City Manager
Finance Director
Pap —of_
98-371
R signed to Councilor Crowley September 14, 1998
CITY OF BANGOR
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By Cog Cwn<ilNNe OUV of Bangor;
BBBOLVED.
WHEREAS, inNovemba,Mainevo witlhask�dtoapprovea$20millionboMisuemfuM
research aM development efforts within the UrdvemityofMaine system; and
WHEREAS, University based research and developmeat efforts have a proven record of improving
economic performance by both creating new jobs and investment in high tahnology
euterprisea and improving the ecommic paformaar a of existing industries; and
WHEREAS, the State of Maine currently ranks 691h or 50th among fire States in investment in RMAh
and development, a ranking witch we believe is directly related to Maine's slow economic
growth; aM
WHEREAS, these bond£rods are an hwestmmt not orgy in Maine's long -tam future but in its
immediem economic performance. Ova the last five years, the University ofMaive has
leveraged its few rea larch and development @ods fourfold through federal and private
sector greats;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCM OF THE CITY OF BANGOR
THAT: we hereby support this November's Stere Bond Issue for Research and Development and
call upon the citizens ofthe City of Bangor to vote in favor ofthis issue. These finds mpreseNan
vestment in Maine's current and Cumreecmvomic growth and investment and will be repaid
many times over through our StaWs ecommic paformamce.
IN CITY COUNCIL
September 14, 1998
Passed
LEM
98-371
8 E S 0 L Y E
Supporting November Bond Referendum to
Used Research and Development Efforts
of the University of Maine System