Bill Text - HB108 (2007)

Making a capital appropriation for Merrimack district court facility improvements.


Revision: Jan. 11, 2010, midnight

HB 108-FN-A – AS INTRODUCED

2007 SESSION

07-1048

09/01

HOUSE BILL 108-FN-A

AN ACT making a capital appropriation for Merrimack district court facility improvements.

SPONSORS: Rep. C. Christensen, Hills 19; Rep. Mooney, Hills 19; Rep. N. Elliott, Hills 19; Rep. O'Neil, Hills 19; Rep. Batula, Hills 19; Sen. Roberge, Dist 9

COMMITTEE: Public Works and Highways

ANALYSIS

This bill makes a capital appropriation to the department of administrative services for Merrimack district court facility improvements.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

07-1048

09/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Seven

AN ACT making a capital appropriation for Merrimack district court facility improvements.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Appropriation; Department of Administrative Services; Merrimack District Court Facility Improvements. The sum of $300,000 is appropriated to the department of administrative services for the biennium ending June 30 2009, for purposes of facility improvements for the Merrimack district court. The sum appropriated may be used for design, engineering, installation, modification, or relocation of the facility.

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 $300,000 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 general fund of the state.

3 Effective Date. This act shall take effect July 1, 2007.

LBAO

07-1048

12/28/06

HB 108-FN-A - FISCAL NOTE

AN ACT making a capital appropriation for Merrimack district court facility improvements.

FISCAL IMPACT:

      The Treasury Department indicates this bill will increase state expenditures by $8,250 in FY 2008, $34,005 in FY 2009, $33,015 in FY 2010 and $32,025 in FY 2011. 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 $300,000.

METHODOLOGY:

    The Treasury Department 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, 2006 is $645 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, 2006 is $546 million. The estimated amount of net general obligation bonds authorized, but unissued, as of July 1, 2006 is $219.7 million.

    The Treasury Department has assumed that one-half of the proposed bond authorization will be issued in FY 2008 and one-half in FY 2009. 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 2011, is displayed below:

            FISCAL YEAR EXISTING DEBT ADDITIONAL

          ENDING SERVICE DEBT SERVICE TOTAL

            2007 $100,668,497 $0 $100,668,497

          2008 $95,248,164 $8,250 $95,256,414

        2009 $93,177,989 $34,005 $93,211,994

          2010 $85,663,920 $33,015 $85,696,935

          2011 $79,170,535 $32,025 $79,202,560

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