123rd MAINE LEGISLATURE
		LD 1796		LR 2594(01)
	An Act To Authorize Bond Issues for Ratification by the Voters for the June and November 2007 Elections
	Fiscal Note for Original Bill
	Sponsor: President Edmonds of Cumberland
	Committee: Appropriations and Financial Affairs
	Fiscal Note Required: Yes
Fiscal Note
Current biennium cost increase - General Fund Current biennium cost increase - Highway Fund
Bond Issues
Part            Type		Term (years)	Principal	Rate (%)	Interest	Total Cost
A	General Fund - Non-Taxable	10	$31,100,000	5.0%	$8,552,500	$39,652,500
A	Highway Fund - Non-Taxable	10	$100,000,000	5.0%	$27,500,000	$127,500,000
B	General Fund - Non-Taxable	10	$20,000,000	5.0%	$5,500,000	$25,500,000
C	General Fund - Non-Taxable	10	$33,000,000	5.0%	$9,075,000	$42,075,000
D	General Fund - Non-Taxable	10	$5,000,000	5.0%	$1,375,000	$6,375,000
E	General Fund - Taxable	10	$131,000,000	5.75%	$41,428,750	$172,428,750
F	General Fund - Non-Taxable	10	$40,000,000	5.0%	$11,000,000	$51,000,000
G	General Fund - Non-Taxable	10	$14,355,000	5.0%	$3,947,625	$18,302,625
G	General Fund - Taxable	10	$3,000,000	5.75%	$948,750	$3,948,750
H	Highway Fund - Non-Taxable	10	$20,000,000	5.0%	$5,500,000	$25,500,000
		Total	$397,455,000		$114,827,625	$512,282,625
Referendum Costs		Month/Year	Election Type	Question	Length
		Jun-07	Special	Bond Issue	2 Questions
		Nov-07	General	Bond Issue	6 Questions
Fiscal Detail and Notes
	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.  A special election in June would require an additional appropriation of $156,043 to the Secretary of State in the current fiscal year (FY 07).