the Maryland Aviation Administration and, in accordance with the Trust Agreement, deposited with the Trustee or
in the general account maintained by the Authority. The Series 1994 Special Revenue bonds do not constitute a
debt or pledge of faith and credit of the State, the Maryland Department of Transportation or the Maryland Aviation
Administration.
In July 1998, the Authority made payments of $19,705,000 towards principal for the early redemption of a
portion of the Series .1994 Special Revenue bonds.
As of June 30, 1998, Maryland Transportation Authority Bond debt service requirements for principal and
interest in future years are as follows (amounts expressed in thousands).
Years Ending
June 30,
1999.
2001..............................................
2002..............................................
2003..............................................
2004..............................................
2006..............................................
2006..............................................
2007..............................................
2008..............................................
2009.............................................. |
Total
$33,720
33,613
33,628
33,650
33,674
38,457
39,649
39,682
39,363
29,745
29,736 |
Years Ending
June 30,
2010..............................................
2011..............................................
2012..............................................
2013..............................................
2014..............................................
2015..............................................
2016..............................................
2017..............................................
2018..............................................
2019..............................................
2020.............................................. |
Total
$29,739
29,740
29,741
29,738
29,745
29,738
20,147
7,036
13,015
13,013
13,013 |
Obligations Under Capital Leases —
Obligations under capital leases as of June 30, 1998, bore interest at annual rates ranging from 3.5% to 7.7%.
The capital leases with component units include capital leases with the Maryland Stadium Authority, which are
being paid with the net proceeds transferred from certain Lottery games and capital leases with the Maryland
Environmental Services. Following is a schedule of annual future minimum payments under these obligations,
along with the present value of the related net minimum payments as of June 30, 1998 (amounts expressed in
thousands).
Years Ending |
Capital Lease |
Obligations With |
June 30,
1999.................................................................
2000.................................................................
2001..................................................................
2004 and thereafter...................................................
Total future minimum payments.........................................
Less amount representing interest. .......................................
Present value of net minimum payments ................................... |
Third Parties
$ 19,127
15,720
13,821
9,903
7,439
34,605
100,615
21,262
$ 79,353 |
Component Units
$ 21,634
28,717
28,738
28,606
28,440
477,345
613,480
300,585
$312,895 |
B. Long Term Obligations — Enterprise Funds —
The enterprise fund long-term obligations as of June 30, 1998, consist of the following (amounts expressed in
thousands).
Community Development Administration Revenue Bonds......................................................
Maryland Water Quality Financing Administration Revenue Bonds......................................
Total Bevenue Bonds.............................................................................
Maryland State Lottery Agency Notes Payable..........................................................................
Accrued Self-Insurance Costs...........................................................................
Accrued Annual Leave...............................................................................
Total long-term obligations.......................................................................... |
$2,385,177
151,328
2,536,505
2,630
526
788
$2,540,449 |
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