124th MAINE LEGISLATURE
		LD 882		LR 908(01)
	An Act To Consolidate and Modernize Maine's Courts
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Mitchell of Kennebec
	Committee: Judiciary
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium cost increase - General Fund
Bond Issues		Term (years)	Principal	Rate (%)	Interest	Total Cost
	Maine Gov Fac Auth	20	$77,000,000	6.5%	$52,552,500	$129,552,500
Fiscal Detail and Notes
	This legislation increases the authorization of the Maine Government Facilities Authority to issue securities by $61,000,000 to pay for the cost of a new courthouse in Augusta, the renovation of a courthouse in Dover-Foxcroft and planning for court facility upgrades in Machais.  This legislation will require a General Fund appropriation to the Judicial Branch for the debt service cost related to this bond issue.  The estimates assume total new debt of $77,000,000, $16,000,000 in existing authority and the $61,000,000 increase contained in this bill.  The amount required will depend on whether the debt is structured with level principal payments or level debt service payments.  The table below identifies the estimated cost of the two options.
	Alternative Choices		FY 09-10	FY 00-11	FY 11-12	FY 12-13
	Level Principal Payments		$121,875	$749,688	$2,680,625	$7,605,000
	Level Debt Service Payments		$121,875	$636,595	$2,416,135	$6,207,605