| 122nd MAINE LEGISLATURE | |||||||||
| LD 1406 | LR 1248(01) | ||||||||
| An Act To Preserve Public Access and Job Opportunities in the North Woods | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Sen. Cowger of Kennebec | |||||||||
| Committee: Agriculture, Conservation and Forestry | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Potential future biennium liability - General Fund | |||||||||
| Fiscal Detail and Notes | |||||||||
| This bill authorizes the Maine Woods Board to issue up to $200,000,000 in securities at any one time. Revenue to service the debt, as well as any associated costs, would come from the board's entering into lease, rent or other arrangements for real or personal property it owns or manages. Whether such arrangements will generate sufficient revenue to support the issuance of revenue bonds or other securities can not be determined at this time. | |||||||||
| Authorizing the issuance of securities by the Maine Woods Board does not specifically extend the moral obligation of the State. Whether the board's securities increase the exposure of the General Fund to future debt service appropriation requirements in the event of significant default activity can not be determined. | |||||||||
| The creation of the Maine Woods Fund does not involve state funds; Other Special Revenue Funds allocations will not be needed. | |||||||||