HB2355 - Tennessee: Bond Issues, Budget Procedures, Public Funds And Financing

Companion Bill SB2329. Bond Issues - Authorizes issuance of bonds to fund state projects. - Fiscal Summary for *HB2355 / SB2329 Increase State Expenditures - $50,473,000 - 1st Year Debt Service (Included in the Governors FY07-08 Budget Document) Other Fiscal Impact - Approximately $770,000 in additional first-year debt service will be provided by University of Memphis funds. This funding is included in the Governors FY07-08 Budget Document. $759,438,000 Over life of the bonds $465,913,000 Principal $293,525,000 Interest Bill Summary for *HB2355 / SB2329 ON JUNE 11, 2007, THE SENATE ADOPTED AMENDMENTS #1 AND #2 AND PASSED SENATE BILL 2329, AS AMENDED. AMENDMENT #1 decreases the amount of bond proceeds for MTSU-related projects from $228 million to $3.7 million and, accordingly, decreases the authorized bond issue [...]

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