LePage to agencies: Don't budget for bond money
Gov. Paul LePage has directed state agencies not to budget for about $40 million in bonds already approved by voters, but not yet sold in the bond market. LePage sent a letter to agencies and Cabinet members saying they must get his approval before including bond funds in their budgets.
In the letter, LePage said state government has a responsibility to ensure taxpayer dollars are "spent appropriately to earn the highest return at the lowest cost," the Bangor Daily News reported. In order for bonds to be sold on the market, the governor and state treasurer must sign a financial order. Bonds approved by voters must be sold within five years.
The governor's directive affects ferry and railroad improvements, energy upgrades at the University of Maine System and community dental clinic work, according to the paper.
Last month, LePage allowed four bond proposals totaling more than $75 million to go to voters in November. However, he said even if they receive approval, his administration won't spend them until it lowers state debt.
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