date of issue. Property taxes, debt service fund loan repayments and general fund appropriations provide the
resources for repayment of general obligation bonds. During fiscal year 1998, the State issued $500,000,000 of
general obligations at a premium of $14,376,000 with related issuance costs of $ 186,000.
Bonds issued after January 1, 1988, are subject to redemption provisions at the option of the State.
As of June 30, 1998, the State has $246,206,000 of defeased debt outstanding, none of which was defeased
during the year ended June 30, 1998.
General obligation bonds issued and outstanding, as of June 30, 1998, are as follows (amounts expressed in
thousands).
Issue
3/7/84
9/6/84
3/13/86
7/24/86
7/9/87
1/7/88
5/17/88
10/25/88
3/1/89
7/18/89
3/3/90
5/1/90
7/17/90
10/16/9P
3/26/91
7/1/91
7/23/91
10/22/91
5/27/92
2/2/93
6/3/93(a)
10/21/93(a)
3/3/94(a)
6/2/94
10/20/94
3/23/95
10/26/95
2/29/96
6/20/96
10/24/96
3/13/97
8/14/97
3/5/98 |
Maturity
1987-1999
1988-2000
1989-2001
1990-2002
1991-2003
1991-2003
1991-2003
1991-2003
1992-2004
1992-2004
1993-2005
1995-2000
1994-2006
1994-2006
1994-2006
1996-2001
1996-2007
1996-2007
1996-2007
1996-2008
1994-2008
1996-2009
1996-2009
1997-2009
1998-2010
1998-2010
1999-2011
1999-2011
1999-2011
1999-2011
2000-2012
2001-2013
2001-2013 |
Interest
Rates
8.00-8.20
8.50-9.00
6.40-6.50
6.50-6.70
6.30-6.50
6.50-7.00
5.20-6.875
6.00-7.00
6.25-6.80
6.40-6.50
6.00-6.70
6.10-6.60
6.40-6.80
6.10-7.10
5.50-6.50
5.60-6.10
5.50-6.50
5.10-6.10
4.40-6.00
4.75-5.50
4.50-5.50
3.00-4.75
3.50-4.75
4.875-5.50
5.00-6.00
5.00-5.70
4.50-5.125
4.00-4.90
5.00-5.25
5.00
5.00
4.75-5.00
4.50-5.00 |
Principal
Issued
$ 116,700
138,990
124,585
164,645
144,860
80,000
80,000
80,000
80,000
80,000
130,000
24,227
95,000
95,000
95,000
11,787
100,000
120,000
120,000
130,000
278,150
28.3,545
184,210
120,000
160,000
175,000
150,000
170,000
150,000
170,000
240,000
250,000
250,000
$4,591,699 |
Principal
Outstanding
$ 13,890
31,995
40,180
65,590
68,940
6,805
6,805
13,195
13,185
19,150
31,115
7,644
38,015
29,395
47,065
3,826
66,395
92,130
92,060
107,355
246,895
260,070
165,630
106,475
151,140
165,580
150,000
170,000
150,000
170,000
240,000
250,000
250,000
$3,270,525 |
(a) Includes refunding debt
General obligation bonds authorized but unissued as of June 30, 1998, total $622,512,000.
As of June 30, 1998, general obligation debt service requirements for principal and interest in future years are
as follows (amounts expressed in thousands):
Years Ending
June 30,
1999..............................................
2000..............................................
2001..............................................
2002..............................................
2003..............................................
2004..............................................
2005..............................................
2006.............................................. |
Total
$411,240
434,254
437,289
415,242
396,838
362,437
343,815
319,589 |
Years Ending
June 30,
2007..............................................
2008..............................................
2009..............................................
2010..............................................
2011..............................................
2012..............................................
2013.............................................. |
Total
$287,192
249,704
221,490
181,891
145,351
95,981
52,581 |
On July 8, 1998, general obligation bonds aggregating $ 250,000,000 were issued. The interest rates on this issue
range from 5.0% to 5.25% and the bonds mature serially through 2013.
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