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123rd MAINE LEGISLATURE |
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LD 1520 |
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LR 1493(01) |
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An Act To
Authorize a General Fund Bond Issue for Biorefineries |
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Fiscal Note for
Original Bill |
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Sponsor: Sen. Bryant, B. of Oxford |
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Committee: Appropriations and Financial Affairs |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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| Potential current biennium cost increase - General Fund |
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| Bond Issues |
Term (years) |
Principal |
Rate (%) |
Interest |
Total Cost |
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General Fund - Taxable |
10 |
$12,500,000 |
5.75% |
$3,953,125 |
$16,453,125 |
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| Referendum
Costs |
Month/Year |
Election Type |
Question |
Length |
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Nov-07 |
General |
Bond Issue |
Standard |
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| Fiscal Detail
and Notes |
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The Finance
Authority of Maine may require ongoing General Fund appropriations of $36,000
in fiscal year 2007-08 and $4,000 per year beginning is fiscal year 2008-09
for the costs associated with administering the funds for biorefinery
projects. The need for General Fund
appropriations is dependent on whether the Authority could assess fees or
utilize a portion of the funds for the administrative costs. |
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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 increases the ballot length, an additional appropriation
of $8,000 or more may be required.
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