PORTLAND (WGME) — It’s not just candidates competing for your attention at the polls this November, there are three bond questions on the ballot as well.
Those questions total $65 million dollars in bonds, and ask voters to consider three areas of investment, like $30 million in funding to maintain Maine’s trail systems.
“Those same volunteers that are out on the trails have to do fundraising activities to buy the tools, to buy the chainsaw, the gas to run that equipment,” said Barry Bernard, treasurer of the Windham Drifters Snowmobile Club.
Bernard is an advocate for trail funding and says Maine’s trails generate $3 billion dollars a year for the state’s economy.
Question 4 on your ballot would provide the funding needed to clean them up from storm damage, repair bridges, and fix signs.
“It’s an investment in Maine’s economy and Maine’s way of life,” said Bernard. “I think it’s a win-win.”
Question 2 asks if voters want to invest $25 million in technological innovation.
If passed, the bond would give money to public and private entities working on projects in areas like biomedical technology, renewable energy, or forestry advancements.
President of the Maine Center for Economic Policy Garrett Martin says the investments could create jobs and improve pay for workers.
“We have a lot of great strengths in our economy in our state in our people and we know that if we honor those and continue to invest in those and support them, good things will happen,” said Martin.
Question 3 asks if voters would approve a $10 million bond to restore historic buildings owned by the government or non-profits.
If all three are approved, it’s a $65 million state loan. Maine State Treasurer Henry Beck says that equates to an estimated $86.6 million dollar payback after interest.
“This is definitely going to be one of the concerns with issuing bonds, is that it does have to be paid back,” said Oak McCoy, assistant professor of Economics at UNE.
“We’ve got a great history of paying back our debts and have a great credit rating so I think in this case what’s been put before voters represents responsible practice,” said Martin.
All three of these bond questions require some sort of private or public match for the bonds to be issued. That means the recipient must have some investment in the project in order to receive that state funding.