121st Maine Legislature
		Office of Fiscal and Program Review
		LD 356
		An Act to Build a Prison in Washington County
		LR 0123(01)
		Fiscal Note for Original Bill
		Sponsor: Rep. Pellon
		Committee: Appropriations and Financial Affairs
		Fiscal Note Required: Yes
Fiscal Note
			2003-04	2004-05	2004-06	2004-07
Net Cost (Savings):
	General Fund		$2,274,713	$1,975,434	$1,924,001	$1,872,589
Appropriations/Allocations
	General Fund		$2,274,713	$1,975,434	$1,924,001	$1,872,589
Issuance of Securities		Term(years)	Principal	Rate (%)	Interest	Total Cost
	Me Gov Fac Auth (MGFA)	20	$19,000,000	5.5%	$10,972,500	$29,972,500
Fiscal Detail and Notes
	This bill authorizes the Maine Governmental Facilties Authority to borrow up to $19,000,000 for the construction of a new correctional facility in Washington County.  In additon to the cost of the issuance of securities, the Department of Administrative and Financial Services anticipates first year costs of approximately $30,000 to fund an ongoing project staff person and $250,000 on a one-time basis to deal with certain construction issues such as the abatement of hazardous materials, boarding windows and other miscellaneous expenses.