LD 1445 LR 2078(01)
Resolve, Reauthorizing the Balance of the 2009 Bond Issue for an Offshore Wind Energy Demonstration Project
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Hamper of Oxford
Committee: Appropriations and Financial Affairs
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium cost increase - General Fund
Bond Issues Term (years) Principal Rate (%) Interest Total Cost
General Fund - Non-Taxable 10 $6,085,000 4.0% $1,338,700 $7,423,700
Fiscal Detail and Notes
$6,085,000 of a previously authorized $26,500,000 bond remains unissued and the original 5-year authorization is expiring. This resolve will extend the authorization for an additional 5 years, allowing issuance without going back to the voters for a second time. There are no additional costs other than the normal debt service costs anticipated at the time of the original authorization.