LD 836 LR 1505(01)
An Act To Authorize a General Fund Bond Issue To Build Maine's Workforce Development Capacity by Modernizing and Improving the Facilities and Infrastructure of Maine's Public Universities
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Jorgensen of Portland
Committee: Appropriations and Financial Affairs
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2017-18 FY 2018-19 Projections  FY 2019-20 Projections  FY 2020-21
Net Cost (Savings)
General Fund $0 $2,500,000 $2,500,000 $2,500,000
General Fund $0 $2,500,000 $2,500,000 $2,500,000
Bond Issues Term (years) Principal Rate (%) Interest Total Cost
General Fund - Non-Taxable 10 $75,000,000 4.25% $17,531,250 $92,531,250
Referendum Costs Month/Year Election Type Question Length
Nov-18 General Bond Issue Standard
The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general election in November.  If the number or size of the referendum questions requires production and delivery of a second ballot, an additional appropriation of $107,250 may be required.
Fiscal Detail and Notes
This bill includes ongoing General Fund appropriations of $2,500,000 per year beginning in fiscal year 2018-19 to the Debt Service program within the University of Maine System to provide funding for debt service for facility and technology upgrades and enhancements.