124th MAINE LEGISLATURE
		LD 913		LR 1931(02)
	An Act To Authorize Bond Issues for Ratification by the Voters for the November 2009 and June 2010 Elections
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Appropriations and Financial Affairs
	Fiscal Note Required: Yes
Fiscal Note
Potential current biennium cost increase - General Fund
			2009-10	2010-11	Projections 2011-12	Projections 2012-13
Appropriations/Allocations
	Other Special Revenue Funds		$1,500	$1,500	$1,500	$1,500
Bond Issues		Term (years)	Principal	Rate (%)	Interest	Total Cost
	General Fund - Non-Taxable	10	$53,500,000	4.5%	$13,241,250	$66,741,250
	General Fund - Taxable	10	$46,500,000	5.0%	$12,787,500	$59,287,500
	Highway Fund - Non-Taxable	10	$50,000,000	4.5%	$12,375,000	$62,375,000
Referendum Costs		Month/Year	Election Type	Question	Length
		Nov-09	General	Bond Issue	Standard
		Jun-10	General	Bond Issue	Standard
		Nov-10	General	Bond Issue	Standard
	The Department of the Secretary of State has budgeted $173,500 to conduct each scheduled referendum election for the 2009-2010 election cycle.  This proposal requires a June 2010 referendum election which will require an All Other appropriation of $173,500 in fiscal year 2010.  Included in this is the cost to produce and deliver ballots of a standard size to the 503 municipalities, along with the costs of producing, distributing and advertising the Citizen’s Guide to the Referendum Election and producing and providing other forms, materials and instructions.  For a referendum-only election a standard-sized ballot of 14 inches can accommodate up to 12 questions.  If the size or number of the ballot questions in either November 2009 or 2010, or June 2010, exceeds these parameters and requires the production and delivery of a second referendum ballot the cost would increase by $107,250.
Fiscal Detail and Notes
	Part G of this bill includes Other Special Revenue Funds base allocations of $500 per year beginning in fiscal year 2009-10 to the Department of Economic and Community Development to establish the Communities for Maine's Future Fund.  The purpose of the fund is to provide funding for the rehabilitation, revitalization and enhancement of downtowns and village centers and main streets in the State.  The additional costs to the Department of Economic and Community Development associated with administering the program can be absorbed within existing budgeted resources.
	Part G of this bill also includes Other Special Revenue Funds base allocations of $500 per year beginning in fiscal year 2009-10 to the Maine Historic Preservation Commission to establish the Historic Preservation Revolving Fund.  The purpose of the fund is to provide funds to qualified nonprofit historic preservation organizations in the State to acquire endangered historic properties.  Additional costs to the Commission to administer the Fund and to serve on the Community for Maine's Future Review Panel can be absorbed within existing budgeted resources.
	Part H of this bill includes Other Special Revenue Funds base allocations of $500 per year beginning in fiscal year 2009-10 to the University of Maine System to establish the Maine Marine Wind Energy Demonstration Site Fund for research, development and product innovation associated with developing one or more ocean wind energy demonstration sites.  Additional costs to the System to implement the demonstration site and administer the Fund can be absorbed within existing budgeted resources.