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122nd MAINE LEGISLATURE |
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LD 274 |
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LR 1109(01) |
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An Act
To Raise the University of Maine System Debt Ceiling |
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Fiscal Note for Original Bill |
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Sponsor: Sen. Turner of Cumberland |
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Committee: Appropriations and Financial Affairs |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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| Potential
current biennium cost increase - General Fund |
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| Fiscal Detail
and Notes |
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Increasing
the University of Maine System's bond ceiling from $170,000,000 to
$220,000,000 to allow for the financing of anticipated future capital
improvement projects may require a General Fund appropriation if, given this
increased authority, the university system issues bonds that do not generate
the anticipated additional revenue and require debt service payments from the
General Fund. |
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The
Governor's Supplemental "Part 2" Budget Recommendation for the
2006-2007 Biennium includes a proposal to increase the University of Maine
System's tax-exempt borrowing authority from $170,000,000 to $220,000,000. |
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