| 122nd MAINE LEGISLATURE | |||||||||
| LD 998 | LR 2238(11) | ||||||||
| 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 House Amendment " " to Committee Amendment " " | |||||||||
| Sponsor: Rep. Glynn | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Current biennium cost increase - General Fund | |||||||||
| Current biennium cost decrease - Highway Fund | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $6,600,000 | $0 | $0 | $0 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $6,600,000 | $0 | $0 | $0 | |||||
| Bond Issues | Term(years) | Principal | Rate (%) | Interest | Total Cost | ||||
| General Fund - Non-taxable | 10 | ($6,100,000) | 4.1% | ($1,375,550) | ($7,475,550) | ||||
| Highway Fund - Non-taxable | 10 | ($500,000) | 4.1% | ($112,750) | ($612,750) | ||||
| ($6,600,000) | ($1,488,300) | ($8,088,300) | |||||||
| Fiscal Detail and Notes | |||||||||
| This amendment reduces the General Fund bond authorizations by $6,100,000 and reduces the Highway Fund bond authorizations by $500,000. General Fund appropriations are included in fiscal year 2005-06 in the same amounts to cover the costs of the projects which will no longer be bonded. The $6,600,000 is the amount of unappropriated surplus estimated to be available to be carried into fiscal year 2005-06. | |||||||||