127th MAINE LEGISLATURE
		LD 1528		LR 2316(02)
	An Act To Modernize and Consolidate Court Facilities
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Judiciary
	Fiscal Note Required: Yes
Fiscal Note
Legislative Cost/Study
			FY 2015-16	FY 2016-17	Projections  FY 2017-18	Projections  FY 2018-19
Net Cost (Savings)
	General Fund		$0	$0	$2,017,470	$5,481,883
Appropriations/Allocations
	General Fund		$0	$0	$2,017,470	$5,481,883
Bond Issues		Term (years)	Principal	Rate (%)	Interest	Total Cost
	Maine Gov Fac Auth	20	$95,600,000	4.0%	$40,152,000	$135,752,000
Legislative Cost/Study
	The general operating expenses of participating in this commission are projected to be $2,000 in fiscal year 2016-17.  The Legislature's budget includes $10,000 in fiscal year 2016-17 for legislative studies.  Whether this amount is sufficient to fund all studies will depend on the number of studies authorized by the Legislative Council and the Legislature.
Fiscal Detail and Notes
Fiscal Detail and Notes
	This bill authorizes the Maine Governmental Facilities Authority to issue securities by $95,600,000 to fund new courthouses in Waldo and York Counties and the renovation of and addition to a courthouse in Oxford County.  The All-In True Interest Cost (All-In TIC) for the first bond issuance in July 2016 is assumed to be the current market rate plus .5%, or 3.36%.  The second issuance in July 2017 is assumed to be the current market rate plus 1%, or 3.87%.  The last bond issuance in July 2018 is assumed to be the current market rate plus 2%, or 4.89%.  The assumed average All-In TIC for all three issuances is 4.18%.  The estimated debt service cost to the judicial branch for the first two years is $2,017,470 in fiscal year 2017-18 and $5,481,883 fiscal year 2018-19.