OLD ORCHARD BEACH — State Sen. Linda Valentino, D-Saco, is sponsoring emergency legislation to override a glitch that could affect the marketability of the town when going out to bond for library renovations.
In 2011, residents voted to approve $2 million for the expansion of the Edith Belle Libby Memorial Library.
With the intention of issuing municipal bonds this spring, the town sought legal counsel from Drummond and Woodsum, which discovered a legal error. The town attorney discovered that the municipal referendum question was combined with state ballot questions in one action item before the council, when the municipal item should have been separate from the state items, Town Manager Larry Mead wrote in a letter to the town and the library board of trustees.
Mead said in a phone interview that other than this “technical process error,” the process was followed correctly.
Both Mead and Library Director Lee Koenigs said the error is “very minor.”
Mead said, however, that when going out to bond, the town would have to disclose that there was an error, which could be a deterrent to investors.
“We want to have an unblemished sale,” said Mead.
To remedy the problem, the town has asked Valentino to propose legislation to override the technicality.
LD 1855, An Act to Validate Certain Proceedings Authorizing the Issuance of Bonds and Notes of the Town of Old Orchard Beach, would validate the Nov. 8, 2011 referendum.
Valentino said the town is fortunate it discovered the error while the Legislature is still in session. Valentino said she’s not expecting any problems with the legislation, and is hoping to get the emergency legislation ready for the governor’s signature next week.
Both Mead and Koenigs expect library renovations to move forward as scheduled. The library is currently in a temporary location at the Lions Club on Saco Avenue. A groundbreaking ceremony for the Libby Library is scheduled for Monday, and renovations are expected to be complete in November.
— Staff Writer Liz Gotthelf can be contacted at 282-1535, ext. 325 or [email protected].
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