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Report of the Comptroller, 1997-98
Volume 197, Page 57   View pdf image (33K)
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Water quality project loans consist of loans to various local governments and other governmental entities in the
State for wastewater projects under the United States Environmental Protection Agency's (EPA) Capitalizatiun
Grants for State Revolving Funds federal assistance program.
The permanent mortgage loans consist of financing for single and multi-family projects, rental projects, small
businesses, industrial sites and various other purposes.
Student and health profession loans are made pursuant to student loan programs funded through the U. S.
Government.
B. Investment in Direct Financing Leases:
As of June 30, 1998, the Maryland Environmental Service (Service) has direct financing leases with the State of
Maryland. The present value of the direct financing leases as of June 30, 1998, is $8,836,000. As of June 30, 1998, the
Service held $4,498,000 to be spent to complete assets under these direct Financing leases. Lease payments
receivable (including unearned interest) for each of the five succeeding fiscal years and thereafter, including
repayment of amounts to be spent, consist of the following (expressed in thousands).


$ 1,575
1,586
1,607
1,475
1306

2004 and thereafter..................................................,......................................................
Less: Unearned income...............................................................................................................
12,038
19,587
6,253
13,334

Restricted investments related to unexpended bond proceeds...............................................
Net investments in direct financing leases.....................................................................................
4,498
$ 8,836

As of June 30, 1998, the Maryland Stadium Authority (Authority) has direct financing leases with the State of
Maryland. The present value of the direct financing leases as of June 30, 1998, is $304,059,000. As of June 30, 1998,
the Authority held $1,401,000, to be spent to complete assets under these direct financing leases. Lease payments
receivable (including unearned interest) for each of the five succeeding fiscal years and thereafter, including
repayment of amounts to be spent, consist of the following (expressed in thousands).

1999..............................................................................................................................................................
2000............................................................................................................................................................
2004 and thereafter............................................................................................................................
$ 20,059
27,131
27,131
27,131
27,134
465,307

Less: Unearned income.......................................................................................................................
593,893
288,433
305 4m

Restricted investments related to unexpended bond proceeds..........................................................................
Net investments in direct financing leases.......................................................................................
1,401
$304,059

8. Property, Plant And Equipment:
A. Enterprise founds:
Property, plant and equipment of the Enterprise funds, as of June 30, 1998, consists of the following (amounts
expressed in thousands).

Structure and improvements......................................................................................................................
Less: Accumulated depreciation.................................................................................................................
Total.......................................................................................................................................................
$ 880
26,691
27,571
20,473
$ 7,098


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Report of the Comptroller, 1997-98
Volume 197, Page 57   View pdf image (33K)
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