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HomeMy WebLinkAbout2003-04-28 03-145 RESOLVEData: April 28f 2003 Item No. 0x-165 Item/Subject: RESOLVE, Supporting Governor John E. Baldacci s $60 million Economic Stimulus Bond Package. Responsible Department: Business and Economic Development Commentary: The Joint Committee on Appropriations and Financial Affairs recently approved an amended version of Gov. John Baldacci's economic stimulus bond package. The $60 million bond will be voted on by the citizens of the State of Maine on June 10, 2003. If passed, the funding package would provide assistance to a wide array of projects with a strong focus on research, development and commercialization. While the Business and Economic Development Committee supports the bond, it was also felt that future packages should possess significant funding for capital projects that would both immediately stimulate the economy through construction work and be for projects that would provide for an expansion of economic base. The Business and Economic Development Committee has reviewed the bond proposal and unanimously requested that a formal resolve be presented to Council. aezS Department Head Manager's Comments: Recommend approval. City Manager Associated Information: Resolve Financia Director Legal Approval: Gty Solicitor Introduced for X Passage _ First Reading _ Referral Page 1 of 1_ 03-165 Assigned to Cous ar p rr3 gtm April 20. 2003 - CITY OF BANGOR (TITLE.) Resolve, Supporting Governor John E. BaldaccYs $60 million Economic Stimulus Bond Package. WHEREAS, the Governor of the State of Maine, in his efforts to stimulate economic development and job creation in the state, submitted a bond package that after debate and modification, was recently approved by the Joint Standing Committee on Appropriations and Financial Affairs; and WHEREAS, the bond package provides funding for a wide array of programs throughout the state; and WHEREAS, the bond package reaffirms the Governor's and the state's desire to enhance the level of funding for research, development and commercialization; and WHEREAS, the $60 million investment that would be made under this proposal will leverage an additional $37 million in federal funding and private matching funds; and WHEREAS, this proposed bond package will appear on a state-wide ballot on Tuesday, June 10, 2003; and WHEREAS, the projects that will be supported by this bond proposal will assist in improving the economy of our region and that of the State as a whole; and WHEREAS, the Council and staff of the City of Bangor wish to continue working with the Governor and Legislature on Implementation of certain of these projects as well as - the development of future bond packages that will facilitate construction of capital projects in the region. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT we hereby support the economic stimulus bond package submitted by Governor John E. ealdacci. This package will provide necessary funds to create new business opportunities for all citizens of the state and assist in improving the economy of our region. BE IT FURTHER RESOLVED, THAT we also call upon our citizens to support this proposal at the election to be held on Tuesday, June 10, 2003. IN CITY COMCIL April 28, 2003 Motive. Node aad Seconded for Pasaede Pasud p 03-145 (TITLE,) supporting Governor deka E:.� au Ir sv_ n w sciT Sovd PacF ge _ Assigned b Coundllor