127th MAINE LEGISLATURE
LD 1447 LR 2080(04)
An Act To Authorize the Maine Governmental Facilities Authority To Issue Securities To Pay for Capital Repairs and Improvements to the Maine Correctional Center in South Windham and a Facility Owned by the Department of Corrections in Washington County
Fiscal Note for Bill as Engrossed with:
C "A" (S-415)
Committee: Criminal Justice and Public Safety
             
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.