SB 214-FN-A – AS INTRODUCED
2007 SESSION
09/03
SENATE BILL 214-FN-A
AN ACT making a capital appropriation to the department of administrative services to fund acquisition of land on which to build a facility for the Hampton-Exeter district court.
SPONSORS: Sen. Fuller Clark, Dist 24; Sen. Hassan, Dist 23; Rep. McGuirk, Rock 15; Rep. Marshall Quandt, Rock 13; Rep. Kepner, Rock 15
This bill makes a capital appropriation to the department of administrative services to fund acquisition of land on which to build a facility for the Hampton-Exeter district court.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
07-1286
09/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seven
AN ACT making a capital appropriation to the department of administrative services to fund acquisition of land on which to build a facility for the Hampton-Exeter district court.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Appropriation; Department of Administrative Services. The sum of $200,000 is hereby appropriated to the bureau of court facilities, department of administrative services for the fiscal year ending June 30, 2008, for the purpose of funding acquisition of land, with access from N.H. route 101 and N.H. route 85, on which to build a facility for the Hampton-Exeter district court.
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 $200,000 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
07-1286
1/18/07
SB 214-FN-A - FISCAL NOTE
AN ACT making a capital appropriation to the department of administrative services to fund acquisition of land on which to build a facility for the Hampton-Exeter district court.
FISCAL IMPACT:
The Treasury Department indicates this bill will increase state expenditures by $5,500 in FY 2008, $22,670 in FY 2009, $22,010 in FY 2010 and $21,350 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 $200,000.
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 $5,500 $95,253,664
2009 $93,177,989 $22,670 $93,200,659
2010 $85,663,920 $22,010 $85,685,930
2011 $79,170,535 $21,350 $79,191,885