127th MAINE LEGISLATURE
LD 1445 LR 2078(02)
Resolve, Reauthorizing the Balance of the 2009 Bond Issue for an Offshore Wind Energy Demonstration Project
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Appropriations and Financial Affairs
Fiscal Note Required: Yes
             
Fiscal Note
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.