HB 1489-A - AS INTRODUCED
2000 SESSION
05/09
HOUSE BILL 1489-A
AN ACT making a capital appropriation for the reconstruction and repair of the Monadnock Mill State Office Building in Claremont.
SPONSORS: Rep. Cloutier, Sull 8; Rep. Flint, Sull 4; Rep. Allison, Sull 10; Rep. Donovan, Sull 11; Sen. Disnard, Dist 8
COMMITTEE: Public Works and Highways
This bill makes a capital appropriation for the reconstruction and repair of the Monadnock Mill State Office Building in Claremont, New Hampshire.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
00-2398
05/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand
AN ACT making a capital appropriation for the reconstruction and repair of the Monadnock Mill State Office Building in Claremont.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Appropriation; Reconstruction and Repair of the Monadnock Mill State Office Building. The sum of $93,000 is appropriated to the department of administrative services for the reconstruction and repair of the Monadnock Mill State Office Building in Claremont, New Hampshire. The department of transportation shall commit to a proposal from an experienced and qualified construction firm for the reconstruction and repair of the Monadnock Mill State Office Building.
2 Bonds Authorized. To provide funds for the appropriation made in section 1 of this act, the state treasurer is hereby authorized to borrow upon the credit of the state not exceeding the sum of $93,000 and for said purpose may issue bonds and notes in the name of and on behalf of the state of New Hampshire in accordance with RSA 6-A.
3 Effective Date. This act shall take effect July 1, 2000.
LBAO
00-2398
12/15/99
HB 1489-A - FISCAL NOTE
AN ACT making a capital appropriation for the reconstruction and repair of the Monadnock Mill State Office Building in Claremont.
FISCAL IMPACT
The Treasury Department has determined that this bill will increase state general fund expen-ditures by $689 in FY 2001, by $3,887 in FY 2002, by $6,313 in FY 2003 and by $6,155 in FY 2004. There will be no effect on county or local expenditures or on state, county and local revenues. This bill increases general fund bonded indebtedness by $93,000.
The Treasury Department has indicated that the amount of all outstanding general fund bonded indebtedness on behalf of and incurred by the state as of June 30, 1999 is $645,900,000. The amount of general fund bonds authorized, but unissued as of June 30, 1999 is $112,400,000.
The Treasury Department has assumed that the proposed bond authorization will be issued half in FY 2001 and half in FY 2002. The new issuance will be split 33% Zero Coupon Notes (College Savings Bonds) and 67% Current Interest Bonds. College Savings Bonds bear an estimated interest rate of 6% and are amortized at a level debt service model for 20 years. Current Interest Bond rates are variable based on July 1999 rates and are amortized over 20 years (60% of the principal paid in the first ten years, 40% paid in the second 10 years). An estimated debt retirement schedule for all outstanding general fund bonded indebtedness, including the proposed authorization contained in this bill through FY 2004, is displayed below:
|
FISCAL YEAR ENDING |
CURRENT DEBT SERVICE |
PROPOSED ADDITIONAL DEBT SERVICE |
TOTAL | |||
2000 |
$67,699,000 |
$0 |
$67,699,000 | |||
2001 |
$65,012,000 |
$689 |
$65,012,689 | |||
2002 |
$58,649,000 |
$3,887 |
$58,652,887 | |||
2003 |
$57,825,000 |
$6,313 |
$57,831,313 | |||
2004 |
$57,142,000 |
$6,155 |
$57,148,155 |