11. Changes in Long-Term Obligations:

Changes in long-term obligations (amounts expressed in thousands) for the year ended June 30, 1980
are summarized as follows:

	General	Transportation	Other Long-Term
	Obligation Bonds	Bonds	Obligations
Balance, July 1, 1979 ......................................	$2,108,700	$515,235	$150,836
Bond issuances ...........................................	117,310	45,000
Bond principal retirements .................................	(159,985)
Excess of actuarially determined retirement costs over the
amounts recorded as expenditures in governmental fund types . .			224,348
Balance, June 30, 1980 .....................................	$2,066,025	$560,235	$375,184

12. Revenue Bonds:

A. Other Enterprise Funds:
Maryland Transportation Authority:

The Maryland Transportation Authority has issued Transportation Facilities Projects Revenue Bonds,
First Series (Refunding) which are payable solely from the revenues of the transportation facilities projects.
Bonds outstanding (amounts expressed in thousands) as of June 30, 1980 consisted of:

Serial bonds maturing in annual installments from $850 to $2,415, from July 1, 1980 through
July 1, 1997 with interest rates ranging from 5.00% to 6.20%, payable semi-annually ....	$ 25,640
Term bonds with interest at 6.625%, payable semi-annually, due July 1, 2003 ............	18,550
Term bonds with interest at 6.80%, payable semi-annually, due July 1, 2016 .............	76,170
	$120,360

The serial bonds are subject to redemption at par in whole or in part, at the option of the Authority on
any July 1 after June 30, 1983 by operation of the Sinking Fund; or at redemption prices ranging from 102%
to 100% of the principal amount on any date or dates after July 2, 1987 from any monies made available for
such purpose. The term bonds are subject to redemption by operation of the Sinking Fund in the years 1998
through 2015 at annual principal amounts ranging from $2,615,000 to $8,400,000.

In compliance with the Trust Agreement underlying the Transportation Facilities Projects Revenue
Bonds, First Series (Refunding), the Authority has established restricted equity accounts in the aggregate
amount of $58,187,726 for certain operating expenses, payment of the bonds and interest and acquisition,
construction and improvements to transportation facilities projects. Assets consisting of cash, $4,111,702; in-
vestments, $57,803,616; and supplies inventories, $81,414; less current accounts payable, $3,809,005 have
been restricted for such purposes.

On September 11, 1979, the Maryland Transportation Authority adopted a resolution directing the
transfer of $13,000,000 from the Transportation Authority Fund to the Transportation Trust Fund of the De-
partment of Transportation of Maryland.

Community Development Administration:

The Community Development Administration has issued revenue bonds, the proceeds of which were
used to provide funds for its various mortgage loan programs. The revenues and assets of each mortgage
loan program are pledged as collateral for the respective revenue bonds. Interest rates range from 3.75% to
10.00% and the bonds mature serially through January 1, 2022. The aggregate principal amount outstand-

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