An Act To Authorize A General Fund Bond Issue For A Jail In Caribou

This bill authorizes the State of Maine to issue up to $3,000,000 in bonds to fund the construction of a new jail in Caribou. The funds would be managed by the Treasurer of State and spent specifically under the direction of the Department of Corrections. Because the bill involves state debt, it must be approved by voters in a statewide referendum held after the legislation passes. If approved, the bonds would be repaid over a maximum of 10 years using future state tax revenues.