This bill raises the debt limit for the Vinalhaven Water District from $1,500,000 to $4,000,000.

This bill increases the debt limit of the Vinalhaven Water District from $1,500,000 to $4,000,000. The Vinalhaven Water District can now issue bonds, notes, or other evidences of indebtedness up to $4,000,000 at any one time. This increase is necessary to allow the district to schedule needed improvements, including a new water main and other compliance upgrades. The district must still adhere to any higher debt limits established by referendum in accordance with Maine Revised Statutes. The bill takes effect immediately upon approval.

This bill raises the debt limit for the Vinalhaven Water District from $1,500,000 to $4,000,000.

This bill increases the debt limit of the Vinalhaven Water District from $1,500,000 to $4,000,000. The Vinalhaven Water District can now issue bonds, notes, or other evidences of indebtedness up to $4,000,000 at any one time. This increase is necessary to allow the district to schedule needed improvements, including a new water main and other compliance upgrades. The district must still adhere to any higher debt limits established by referendum in accordance with Maine Revised Statutes. The bill takes effect immediately upon approval.