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January 8, 2013

Treasurer calls for LePage to OK $64M in bonds

State Treasurer Neria Douglass, sworn into office on Monday, has already staked out a battle over $64 million in voter-approved bonds that Gov. Paul LePage said he would not issue anytime soon.

The Associated Press reported that Douglass, in a speech delivered after she was sworn in Monday, urged LePage to issue the bond measures that would fund transportation projects, land conservation and improvements to drinking water systems and wastewater treatment facilities in the state.

As governor, LePage has final authority over the issuance of those bonds and spokeswoman Adrienne Bennett told the AP that the governor has no intention of the state taking out loans for those projects "until it's fiscally prudent to move forward with bonds."

The Legislature, which begins its new session today, faces the challenge of finding $35.5 million in immediate cuts after LePage issued a curtailment order for that amount late last month.

The state also faces closing a revenue gap for its 2014-15 budget that totals $130 million, the AP reported.

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