123rd MAINE LEGISLATURE
		LD 320		LR 2347(01)
	An Act To Allow the Widening of a Portion of the Maine Turnpike
	Fiscal Note for Original Bill
	Sponsor: Sen. Damon of Hancock
	Committee: Transportation
	Fiscal Note Required: Yes
Fiscal Note
Current biennium cost increase - Maine Turnpike Authority Potential future biennium cost increase - Maine Turnpike Authority Expanded bonding capacity - Maine Turnpike Authority
Fiscal Detail and Notes
	Authorizing the widening of a particular portion of the Maine Turnpike will have an estimated total cost of $150,000,000 to the Maine Turnpike Authority.  Construction is anticipated to begin in calender year 2010 and will be completed by calender year 2016.  The bill also authorizes the increase of the Maine Turnpike Authority's bonding limit from $361,000,000 to $386,000,000 to allow bonding proceeds to be used for completion of the widening project.  It is anticipated that 1/3 of the project's total cost will be paid for with bond proceeds with the remaining 2/3 to be paid for with cash generated from Maine Turnpike Authority operations.  Estimated annual prinicipal and interest payments for anticipated bond issuances can not be determined at this time. In adddition, the widening project is expected to increase operational and maintenace costs of the Authority by $50,000 annually beginning in calender year 2011 with slight increases over that amount in subsequent years.