124th MAINE LEGISLATURE
		LD 1826		LR 2648(02)
	An Act To Authorize Bond Issues for Ratification by the Voters for the June 2010 Election
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Appropriations and Financial Affairs
	Fiscal Note Required: Yes
Fiscal Note
			2009-10	2010-11	Projections 2011-12	Projections 2012-13
Net Cost (Savings)
	General Fund		$0	$2,128,500	$0	$0
Appropriations/Allocations
	General Fund		$0	$2,128,500	$0	$0
Bond Issues		Term (years)	Principal	Rate (%)	Interest	Total Cost
	General Fund - Non-Taxable	10	$79,800,000	4.0%	$17,556,000	$97,356,000
	General Fund - Taxable	10	$5,200,000	5.0%	$1,430,000	$6,630,000
Referendum Costs		Month/Year	Election Type	Question	Length
		Jun-10	Special	Bond Issue	Standard
		Nov-10	General	Bond Issue	Standard
	The Department of the Secretary of State has budgeted $307,000 to conduct both the June and November 2010 elections.  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 June or November 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
	The bill includes an appropriation of $2,128,500 in fiscal year 2010-11 to the Office of Treasurer of State to accommodate increased debt service requirements from an additional $85,000,000 bond authorization.  The bill also includes a transfer of $2,128,500 from the short-term emergency contingency account to the General Fund unappropriated surplus to cover the cost of the appropriation.