123rd MAINE LEGISLATURE
LD 321 LR 2346(01)
An Act To Increase the Bonding Capacity of the Maine Turnpike Authority
Fiscal Note for Original Bill
Sponsor: Sen. Damon of Hancock
Committee: Transportation
Fiscal Note Required: Yes
             
Fiscal Note
Expanded bonding capacity - Maine Turnpike Authority
Current biennium cost increase - Maine Turnpike Authority
Fiscal Detail and Notes
Authorizing the increase of the Maine Turnpike Authority's bonding limit from $361,000,000 to $461,000,000 provides part of the anticipated funding needed by the Authority to successfully implement its long-term spending plan for capital projects and maintenance through the year 2020.  It is anticipated that approximately 32% of the authority's total estimated resources over this time span will be provided for by bond proceeds with the remaining 68% coming from cash generated from Maine Turnpike Authority operations.  Estimated annual principal and interest payments for anticipated bond issuances can not be determined at this time.