LD 1447 LR 2080(02)
An Act To Authorize Increased Borrowing by the Maine Governmental Facilities Authority To Support the Maine Correctional Center in South Windham
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Criminal Justice and Public Safety
Fiscal Note Required: Yes
Fiscal Note
Current biennium cost increase - General Fund
Bond Issues Term (years) Principal Rate (%) Interest Total Cost
Maine Gov Fac Auth 10 $149,700,000 4.0% $32,934,000 $182,634,000
Fiscal Detail and Notes
This bill authorizes the Maine Government Facilities Authority to issue securities to pay for capital repairs and improvements to the Maine Correctional Center and a facility owned by the Department of Corrections in Washington County.  The amount of additional General Fund appropriation required for debt service costs will depend on the timing and amount of securities issued in any given fiscal year and cannot be determined at this time.