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
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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
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