| 122nd MAINE LEGISLATURE | |||||||||
| LD 998 | LR 2238(01) | ||||||||
| An Act To Authorize Department of Transportation Bond Issues To Match Available Federal Funds for Improvements to Highways and Bridges; Airports; Public Transit; State-owned Ferry Vessels and Ferry and Port Facilities; Port and Harbor Structures; Development of Rail Corridors and Improvements to Railroad Structures; and Statewide Trail and Pedestrian Improvements | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Sen. Damon of Hancock | |||||||||
| Committee: Appropriations and Financial Affairs | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Current biennium cost increase - General Fund | |||||||||
| Current biennium cost increase - Highway Fund | |||||||||
| Bond Issues | Term(years) | Principal | Rate (%) | Interest | Total Cost | ||||
| General Fund - Non-taxable | 10 | $10,250,000 | 3.7% | $2,085,875 | $12,335,875 | ||||
| Highway Fund - Non-taxable | 10 | $27,750,000 | 3.7% | $5,647,125 | $33,397,125 | ||||
| $38,000,000 | $7,733,000 | $45,733,000 | |||||||
| Referendum Costs | Month/Year | Election Type | Question | Length | |||||
| Jun-05 | 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 would require an additional appropriation of $139,560. | |||||||||