HB 582-FN-A – AS INTRODUCED
2007 SESSION
06/10
HOUSE BILL 582-FN-A
AN ACT relative to the bridge over the Merrimack River.
SPONSORS: Rep. L. Ober, Hills 27; Rep. Jasper, Hills 27; Rep. Haefner, Hills 27; Rep. R. Ober, Hills 27; Rep. Renzullo, Hills 27
COMMITTEE: Public Works and Highways
This bill:
I. Directs the department of transportation to expedite the project development and construction of a bridge to cross the Merrimack River.
II. Authorizes the commissioner to establish tolls.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
07-0521
06/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seven
AN ACT relative to the bridge over the Merrimack River.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Department of Transportation, Design and Construction of Bridge. The department of transportation shall give priority to “circumferential highway-project 10625h Northern River Crossing” and expedite the project development and construction of the bridge to cross over the Merrimack River and connect U.S. Route 3 in Merrimack to NH 3A and NH 102 in Litchfield.
2 Funding for Design And Construction of Bridge. The design and construction of the bridge to connect U.S. Route 3 in the town of Merrimack to NH 3A and NH 102 in Litchfield shall be funded through bonds authorized in the state 10-year transportation improvement program. The commissioner shall be authorized to establish tolls on the Litchfield side of the river, which shall terminate when the bonds are paid off.
3 Effective Date. This act shall take effect 60 days after its passage.
LBAO
07-0521
Revised 02/09/07
HB 582 FISCAL NOTE
AN ACT relative to the bridge over the Merrimack River.
FISCAL IMPACT:
The Department of Transportation has determined this bill may increase turnpike fund expenditures by $6.2 million in FY 2008, $7.2 million in FY 2009, $7.2 million in FY 2010, and $20.55 million in FY 2011 and increase turnpike revenues by an indeterminable amount in FY 2008 and each year thereafter. There will be no fiscal impact on county and local revenues or expenditures.
METHODOLOGY:
The Department of Transportation (DOT) states the construction project proposed by this bill will be funded initially through a bond issue which will be serviced by toll revenue. The bonds are assumed to have a term of 30 years at a rate of 5.5%, resulting in a debt service of $4.4 million per year. In addition to the debt service payments, the costs involved in the project are estimated to be $7.1 million for preliminary engineering, $2 million for right-of-way land acquisitions, and $57.8 million for construction, a total of $66.9 million. The engineering would occur over four years, FY 2008 through 2011, with cost allocated equally over these years ($1.8 million/yr). Right-of-way acquisitions would occur during FY 2009 and 2010 with costs allocated equally over these two years ($1 million/year). Construction would occur over four years, FY 2011 through 2014, with costs allocated equally over these four years ($14.45 million/year). Based on these cost estimates annual expenditures for the project during the period covered by this fiscal note are as follows:
FY 2008 FY 2009 FY 2010 FY 2011
Engineering $1,800,000 $1,800,000 $1,800,000 $1,700,000
Right of Way - $1,000,000 $1,000,000 -
Construction - - - $14,450,000
Debt Service $4,400,000 $4,400,000 $4,400,000 $4,400,000
Total $6,200,000 $7,200,000 $7,200,000 $20,550,000
Additional costs for construction of $43.35 million or $14.45 million per year will be incurred during FY 2012 through FY 2014. Debt service payments of $4.4 million per year will continue until the last scheduled payment in FY 2038 or until such time as the debt is paid off. No estimate has been made for future maintenance and operation costs, which are to be funded by toll revenues.
DOT also states the commissioner is authorized to establish tolls to pay for this project. The toll rate and projected revenue by fiscal year is indeterminable at this time.