121st Maine Legislature
Office of Fiscal and Program Review
LD 1566
An Act To Authorize a General Fund Bond Issue in the Amount of $70,000,000 for Municipal Facilities and for Investments in Research, Development, Farming and Affordable Housing in Order To Sustain and Improve Maine's Economy   
LR 2044(01)
Fiscal Note for Original Bill
Sponsor: Rep. Richardson
Committee: Appropriations and Financial Affairs
Fiscal Note Required: Yes
   
             
Fiscal Note
 Current biennium cost increase - General Fund
Bond Issues Term(years) Principal Rate (%) Interest Total Cost
General Fund - Non-taxable 10 $50,000,000 4.1% $11,275,000 $61,275,000
General Fund - Taxable 10 $20,000,000 5.2% $5,720,000 $25,720,000
  $70,000,000   $16,995,000 $86,995,000
Referendum Costs Month/Year Election Type Question Length
Jun-03 Special Bond Issue Standard
The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general election in November. If the number or size of the referendum questions increases the ballot length, an additional appropriation of $8,000 or more may be required.  A special election in June of 2003 would require an additional appropriation of $121,392 in fiscal year 2003-04.  No appropriation is provided for this purpose at this time.