122nd MAINE LEGISLATURE
LD 998 LR 2238(01)
An Act To Authorize Department of Transportation Bond Issues To Match Available Federal Funds for Improvements to Highways and Bridges; Airports; Public Transit; State-owned Ferry Vessels and Ferry and Port Facilities; Port and Harbor Structures; Development of Rail Corridors and Improvements to Railroad Structures; and Statewide Trail and Pedestrian Improvements
Fiscal Note for Original Bill
Sponsor: Sen. Damon of Hancock
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 Term(years) Principal Rate (%) Interest Total Cost
General Fund - Non-taxable 10 $10,250,000 3.7% $2,085,875 $12,335,875
Highway Fund - Non-taxable 10 $27,750,000 3.7% $5,647,125 $33,397,125
$38,000,000 $7,733,000 $45,733,000
Referendum Costs Month/Year Election Type Question Length
Jun-05 Special Bond Issue Standard
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 would require an additional appropriation of $139,560.