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STATE OF MARYLAND
Schedule of Taxes Pledged to Consolidated Transportation Bonds and Net Revenues as Defined for
Purposes of Consolidated Transportation Bonds Coverage Tests
Last Seven Fiscal Years
(Expressed in Thousands) (1) (2)
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Year Ended
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June 30,
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1983
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1982
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1981
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1980
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1979
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1978
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1977
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Revenues:
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Taxes and fees:
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Taxes pledged to bonds ...............................
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$297,603
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$245,732
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$236,588
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$216,428
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$227,546
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$216,734
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$189,864
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Other taxes and fees ..................................
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106,298
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102,956
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105,680
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59,926
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61,094
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59,211
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56,801
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Total taxes and fees ..............................
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403,901
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348,688
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342,268
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276,354
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288,640
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275,945
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246,665
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Operating revenues .....................................
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100,292
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96,548
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87,912
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80,073
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67,463
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61,368
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54,978
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Investment income .....................................
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6,432
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21,261
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10,308
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3,616
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5,682
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7,568
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6,245
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Other ..................................................
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1,093
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971
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1,046
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1,299
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796
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670
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776
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Transfer — Maryland Transportation Authority ...........
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10,000
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13,000
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Total revenues ....................................
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511,718
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467,468
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451,534
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374,342
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362,581
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345,551
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308,664
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Administration, operation and maintenance expenditures
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317,104
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280,561
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258,906
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221,438
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192,828
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170,235
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154,788
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Less federal funds .................................... .
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(19,220)
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(30,394)
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(35,160)
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(16,288)
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(24,191)
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(11,973)
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(20,386)
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Total ............................................
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297,884
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250,167
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223,746
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205,150
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168,637
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158,262
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134,402
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Net revenues ...........................................
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$213,834
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$217,301
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$227,788
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$169,192
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$193,944
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$187,289
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$174,262
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Maximum annual principal and interest requirements ......
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$53,008
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$50,325
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$50,894
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$49,216
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$53,065
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$55,041
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$55,041
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Ratio of net revenues to maximum annual principal and
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interest requirements ...................................
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4.03
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4.32
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4.48
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3.44
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3.65
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3.40
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3.17
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Ratio of taxes pledged to bonds to maximum annual principal
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and interest requirements ...............................
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5.61
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4.88
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4.65
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4.40
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4.29
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3.94
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(3)
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Source: Office of the Secretary of the Department of Transportation.
(1) Under the terms of the bond authorizing resolutions, additional Consolidated Transporation Bonds may be issued, provided, among other conditions, that (i) total
receipts, less administration, operation and maintenance expenditures for the preceding fiscal year equal at least two times maximum annual debt service on all
Consolidated Transportation Bonds outstanding and to be issued and any then outstanding Maryland Port Authority Loans and that (ii) total proceeds from pledged
taxes equal at least two times maximum annual debt service on all Consolidated Transportation Bonds outstanding and to be issued and any then outstanding
Maryland Port Authority Loans.
(2) Information is not available prior to 1977.
(3) The terms of the bond authorizing resolutions did not include this bonds coverage test during 1977.
STATE OF MARYLAND
Demographic Statistics
Last Ten Fiscal Years
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Fiscal
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Per Capita
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School
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Unemployment
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Year
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Population (1)
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Income (2)
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Enrollment (3)
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Rate (4>
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1983 ...........
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....... 4,319,000
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N/A
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909,418
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8.0%
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1982 ...........
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....... 4,265,000
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$12,194
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925,622
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8.4
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1981 ...........
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....... 4,216,000
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11,477
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950,548
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7.3
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1980 ...........
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....... 4,193,000
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10,399
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971,236
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6.5
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1979 ...........
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....... 4,149,000
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9,323
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1,000,435
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5.9
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1978 ...........
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....... 4,148,000
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8,419
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1,028,402
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5.6
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1977 ...........
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....... 4,139,000
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7,546
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1,040,163
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6.1
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1976 ...........
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....... 4,125,000
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6,981
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1,053,859
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6.8
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1975 ...........
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....... 4,111,000
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6,410
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1,049,546
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6.9
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1974 ...........
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....... 4,100,000
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5,974
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1,088,007
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4.7
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Sources:
(1) U.S. Department of Commerce, Bureau of Census
(2) U.S. Department of Commerce, Bureau of Economic Analysis
(3) State Departments of Education and Higher Education
(4) State Department of Human Resources
N/A—Not available at this date.
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