Governor signs $295M multiuse bond package

AUGUSTA – Gov. John Baldacci on Tuesday praised state lawmakers for working in “an overwhelmingly bipartisan fashion” as he signed a $295 million state borrowing package that will go to voters in three parts.

The bond package, which received a unanimous recommendation from the Appropriations Committee and surpassed the required two-thirds majorities in both legislative chambers, carries a heavy emphasis on transportation infrastructure.

Voters will get the final say on $131 million worth of bonds in June. Included is $100 million for road and bridge repairs.

The remainder will go to voters in November and in June 2008. Included is money for school renovations and research and development, among other things.

The bond package was backed on final votes of 138-6 in the House of Representatives and 33-0 in the Senate. The total interest cost would be nearly $84 million over the life of the proposed 10-year bonds.