Fiscal Note

HB0004 - General Obligation Bonds Authorizations

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 Multi-agency Government Office Building and the Snow College Library. 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 $5,700,000 per year with first year interest cost of $318,000. Actual debt service will vary according to interest rates at the time of issuance and the structure of the bonds.

Funding SourceFY 2009
Approp.
FY 2010
Approp.
FY 2011
Approp.
FY 2009
Revenue
FY 2010
Revenue
FY 2011
Revenue
General Fund$0$5,700,000$5,700,000$0$0$0
General Fund, One-Time$0($5,382,000)$0$0$0$0
   Total
$0

$318,000

$5,700,000

$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.

2/25/2009, 9:59:13 AM, Lead Analyst: Amon, R.Office of the Legislative Fiscal Analyst