HB 371-FN-A – AS INTRODUCED
2011 SESSION
03/10
HOUSE BILL 371-FN-A
AN ACT relative to capital appropriations to the liquor commission for facilities on Interstate Route 93 in Hooksett and improvements to existing stores.
COMMITTEE: Public Works and Highways
This bill makes a capital appropriation to the liquor commission for facilities on Interstate Route 93 in Hooksett and amends a prior appropriation to permit improvements to existing stores.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
11-0382
03/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT relative to capital appropriations to the liquor commission for facilities on Interstate Route 93 in Hooksett and improvements to existing stores.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Appropriation; Hooksett Liquor Stores. The sum of $5,346,000 for the fiscal year ending June 30, 2011, is hereby appropriated to the state liquor commission for the construction and/or rebuilding of 2 liquor and wine stores, one northbound and one southbound, at the Interstate Route 93 rest areas in Hooksett as part of the development and enhancement of these rest areas, with each store to increase in size from 8,000 square feet to 14,000 square feet. This appropriation shall be expended as follows:
Construction and demolition $4,860,000
Architect/engineering $ 486,000
Total $5,346,000
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 $5,346,000 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. Payments of principal and interest of the bonds and notes shall be made from the liquor commission fund.
3 Capital Appropriation; Liquor Commission. Amend 2009, 145:1, VIII, B to read as follows:
B. Build Liquor Store - Nashua
and capital improvements to existing stores 4,800,000
4 Effective Date. This act shall take effect upon its passage.
LBAO
11-0382
01/13/11
HB 371-FN-A - FISCAL NOTE
AN ACT relative to capital appropriations to the liquor commission for facilities on Interstate Route 93 in Hooksett and improvements to existing stores.
FISCAL IMPACT:
The State Treasury states this bill will increase state expenditures by $294,030 in FY 2012, $650,430 in FY 2013, $630,828 in FY 2014, $611,266 in FY 2015. There is no fiscal impact on county and local expenditures or state, county and local revenues.
This bill increases bonded indebtedness supported by the general fund by $5,346,000
METHODOLOGY:
The State Treasury has indicated that the amount of total outstanding direct general obligation bonded indebtedness on behalf of and incurred by the state as of June 30, 2010 is $823 million (not including bond anticipation notes outstanding). The amount of net general obligation bonded indebtedness (general improvement plus University System of New Hampshire bonds), as of June 30, 2010 is $625 million. The estimated amount of net general obligation bonds authorized, but unissued, as of July 1, 2010 is $263.3 million.
The Treasury Department has assumed that the proposed bond authorization will be issued in FY 2012. Current interest bond rates are fixed at 5.5% and 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 direct general obligation bonded indebtedness, including the proposed authorization contained in this bill through FY 2015, is displayed below (in thousands):
Fiscal Existing Additional Total Year Debt Obligation Debt Obligation Debt Obligation 2012 $97,833 $294 $98,127
2013 $87,358 $650 $88,008
2014 $77,738 $631 $78,369
2015 $76,262 $611 $76,873