| 122nd MAINE LEGISLATURE | |||||||||
| LD 35 | LR 0087(01) | ||||||||
| An Act to Authorize a General Fund Bond Issue in the Amount of $75,000,000 for the Land for Maine's Future Fund | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Sen. Brennan | |||||||||
| Committee: Appropriations and Financial Affairs | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Bond Issues | Term(years) | Principal | Rate (%) | Interest | Total Cost | ||||
| General Fund - Non-taxable | 10 | $75,000,000 | 3.7% | $15,262,500 | $90,262,500 | ||||
| Referendum Costs | Month/Year | Election Type | Question | Length | |||||
| Nov-05 | General | Referendum | 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 increases the ballot length, an additional appropriation of $8,000 or more may be required. | |||||||||
| Fiscal Detail and Notes | |||||||||
| Section 6 of the bill allocates the bond proceeds to the Department of Conservation for the Land for Maine's Future Fund. The Land for Maine's Future Fund is located within the Executive Department at the State Planning Office. | |||||||||