Fiscal Note
SB0004 - General Obligation Bond Authorization
State Impact:
This legislation authorizes issuance of General Obligation bonds, which are backed by the full faith and credit of the state, for construction of a facility at Utah State University. Language in the bill makes bond issuance contingent on receipt of federal funds. Assuming all of the bonds are issued in the first year, with a standard six year repayment period and flattened payments at today's interest rates, debt service will require approximately $8,078,000 per year with first year interest cost of $688,500. Actual debt service will vary according to the timing of federal funds and the structure of the bonds.
| Funding Source | FY 2008 Approp. | FY 2009 Approp. | FY 2010 Approp. | FY 2008 Revenue | FY 2009 Revenue | FY 2010 Revenue |
| Education Fund | $0 | $688,500 | $8,078,000 | $0 | $0 | $0 |
| Total | $0 | $688,500 | $8,078,000 | $0 | $0 | $0 |
Individual, Business and/or Local Impact:
Enactment of this bill likely will not result in direct, measurable costs and/or benefits for individuals, businesses, or local governments.
| 2/29/2008, 10:42:52 AM, Lead Analyst: Allred, S. | Office of the Legislative Fiscal Analyst |