| 123rd MAINE LEGISLATURE | ||||||
| LD 321 | LR 2346(02) | |||||
| An Act To Increase the Bonding Capacity of the Maine Turnpike Authority | ||||||
| Fiscal Note for Bill as Amended by Committe Amendment " " | ||||||
| Committee: Transportation | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| Expanded bonding capacity - Maine Turnpike Authority Current biennium cost increase - Maine Turnpike Authority |
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| Fiscal Detail and Notes | ||||||
| Authorizing the increase of the Maine Turnpike Authority's bonding limit from $361,000,000 to $461,000,000 provides part of the anticipated funding needed by the Authority to successfully implement its long-term spending plan for capital projects and maintenance through the year 2020. It is anticipated that approximately 32% of the authority's total estimated resources over this time span will be provided for by bond proceeds with the remaining 68% coming from cash generated from Maine Turnpike Authority operations. Estimated annual principal and interest payments for anticipated bond issuances can not be determined at this time. | ||||||