Closed shannonmcharg closed 4 years ago
I need help calculating the interest, if anyone knows how to do that. I usually get it from the secretary of state's guide to the election, but that isn't available yet.
There's now a treasury statement on the state website, so no need to calculate interest.
https://legislature.maine.gov/legis/bills/bills_129th/chapters/PUBLIC673.asp https://ballotpedia.org/Maine_Question_1,_High-Speed_Internet_Infrastructure_Bond_Issue_(July_2020)
Question title
Question 1: Internet Infrastructure
Description (will display on homepage)
This measure would allow the state to borrow $15 million for high-speed internet infrastructure improvements.
The gist
Passing this question would allow the state to borrow $15 million, matched by $30 million in other funds, for high-speed internet infrastructure improvements in areas where infrastructure is lacking.[^1]
Ballot question (exact text of the question)
“Do you favor a $15,000,000 bond issue to invest in high-speed internet infrastructure for unserved and underserved areas, to be used to match up to $30,000,000 in federal, private, local or other funds?”[^1]
Yes means
I am in favor of borrowing $15 million to improve high-speed internet infrastructure.
No means
I don't want Maine to borrow $15 million to improve high-speed internet infrastructure.
Tell me more
Passing this question would allow the State of Maine to borrow $15 million for the ConnectME Authority, a public organization responsible for promoting high-speed internet usage in unserved and underserved areas of Maine.[^2]
This is a bond issue – if voters approve the bond, it means that the State of Maine is allowed to borrow money for the project described in the ballot question and has to pay it back over 10 years. Learn more about how bonds work.
Follow the money
Principal: $15,000,000 Interest: $4,125,000 (assumes 5.0% over 10 years) Total cost: $19,125,000 [^4]
The money will be used to
The money will be coming from
Pros
The primary arguments for this referendum are:
Cons
The primary arguments against this referendum are:
Who cares
Nobody has registered support or opposition for this question.
Further reading
Full text Ballotpedia article ConnectMaine State of Maine Broadband Action Plan
References
Put the number in brackets above to indicate a footnote to a reference.
Image
https://search.creativecommons.org/photos/adc972a4-e29f-4fe1-a832-0644e4557dfb
Tags
Bond, Internet, Infrastructure
Election date
07-14-2020