Gillette Madison water project financing.

11LSO-0389.L1

FISCAL NOTE

This bill contains an appropriation of $33,500,000 from the BUDGET RESERVE ACCOUNT to the Water Development Commission.

This bill makes available $16,500,000 from the PERMANENT MINERAL TRUST FUND to the Water Development Commission.

DETAIL OF APPROPRIATION

Agency #:  029     Agency Name:  Water Development Commission

Unit:  8700 Gillette Madison

EXPENDITURE BY SERIES AND YEAR       FY 2011         FY 2012         FY 2013

0600  Grant & Aid Payments                          $8,375,000     $25,125,000

0800  Non-Operating Expenditures                    $4,125,000     $12,375,000

Total Expenditure Per Year:                        $12,500,000     $37,500,000

Grand Total Expenditure:          $50,000,000

Total Appropriated to Agency:     $50,000,000

Total Appropriated by Fund

BUDGET RESERVE ACCOUNT   :        $33,500,000

PERM. MINERAL TRUST FUND :        $16,500,000

Description of appropriation:

The funds will be used as a grant and loan to the City of Gillette for construction engineering and construction of the Gillette Madison project.

The 0600 series expenditures reflected above will be expended for the grant from the Budget Reserve Account as described in the bill. The 0800 series expenditures will be expended for the loan from the Permanent Mineral Trust Fund as described in the bill.

Prepared by:   Dean Temte, LSO  Phone: 777-7881

(Information provided by Mike Purcell, WWDC; 777-7613)