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128th MAINE LEGISLATURE |
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LD 836 |
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LR 1505(01) |
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An Act To
Authorize a General Fund Bond Issue To Build Maine's Workforce Development
Capacity by Modernizing and Improving the Facilities and Infrastructure of
Maine's Public Universities |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Rep. Jorgensen of Portland |
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Committee: Appropriations and Financial Affairs |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2017-18 |
FY 2018-19 |
Projections FY 2019-20 |
Projections FY 2020-21 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$2,500,000 |
$2,500,000 |
$2,500,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$2,500,000 |
$2,500,000 |
$2,500,000 |
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| Bond Issues |
Term (years) |
Principal |
Rate (%) |
Interest |
Total Cost |
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General Fund - Non-Taxable |
10 |
$75,000,000 |
4.25% |
$17,531,250 |
$92,531,250 |
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| Referendum
Costs |
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Month/Year |
Election Type |
Question |
Length |
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Nov-18 |
General |
Bond Issue |
Standard |
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The Secretary of
State's budget includes sufficient funds to accommodate one ballot of average
length for the general election in November.
If the number or size of the referendum questions requires production
and delivery of a second ballot, an additional appropriation of $107,250 may
be required. |
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| Fiscal Detail
and Notes |
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This bill
includes ongoing General Fund appropriations of $2,500,000 per year beginning
in fiscal year 2018-19 to the Debt Service program within the University of
Maine System to provide funding for debt service for facility and technology
upgrades and enhancements. |
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