|
|
|
|
Total
|
|
|
|
|
Transportation
|
|
|
Consolidated
|
County
|
Bond Debt
|
|
Years ending
|
Transportation
|
Transportation
|
Service
|
|
June 30,
|
Bonds
|
Bonds
|
Requirements
|
|
1985
|
$56,873
|
$31,237
|
$88,110
|
|
1986
|
57,307
|
30,631
|
87,938
|
|
1987
|
25,754
|
20,991
|
46,745
|
|
1988
|
25,595
|
15,593
|
41,188
|
|
1989
|
22,390
|
15,649
|
38,039
|
|
1990
|
20,299
|
15,729
|
36,028
|
|
1991
|
19,264
|
15,770
|
35,034
|
|
1992
|
18,214
|
15,820
|
34,034
|
|
1993
|
17,173
|
15,815
|
32,988
|
|
1994
|
10,105
|
15,372
|
25,477
|
|
1995
|
3,490
|
15,412
|
18,902
|
|
1996
|
4,280
|
8,271
|
12,551
|
|
1997
|
|
7,450
|
7,450
|
|
1998
|
|
2,707
|
2,707
|
On February 15 and May 25, 1978 the Department of Transportation issued Consolidated Transportation
Bonds, Refunding Series 1978 and County Transportation Bonds—First Issue Refunding Series 1978,
respectively. The net proceeds of these issues, after underwriters' discounts and other financing expenses, in
principal amounts aggregating $510,625,000 were used to purchase U.S. Government Securities sufficient to
fully provide for the timely payment of $500,585,000 Consolidated Transportation Bonds, State Highway
Construction and County Transportation Bonds. The U.S. Government Securities purchased to retire the
Consolidated Transportation Bonds and State Highway Construction Bonds were deposited with the State
Treasurer and were previously accounted for in the refunded transportation debt expendable trust fund. As a
result of these transactions, the refunded bonds are deemed to be retired and, accordingly, are no longer
reported as long-term debt in the financial statements and the refunded transportation debt expendable trust
fund is no longer included in the accompanying financial statements. At June 30, 1984, the refunded bonds
outstanding were $283,390,000.
10. Changes in General Long-Term Debt:
Changes in general long-term debt (amounts expressed in thousands) for the year ended June 30, 1984,
are summarized as follows:
|
|
General
|
Trans-
|
Accrued
|
Accrued
|
|
|
Obligation
|
portation
|
Retirement
|
Annual
|
|
|
Bonds
|
Bonds
|
Costs
|
Leave
|
|
Balance, July 1, 1983 ......................
|
$2,409,890
|
$757,200
|
$567,168
|
$59,720
|
|
Bond issuances ............................
|
116,700
|
29,770
|
|
|
|
Bond principal retirements .................
|
(212,275)
|
(10,485)
|
|
|
|
Excess of actuarially determined retirement
|
|
|
|
|
|
costs over the amounts recorded as
|
|
|
|
|
|
expenditures in governmental fund types . .
|
|
|
10,121
|
|
|
Amortization of prior years' liability for
|
|
|
|
|
|
unfunded retirement costs ................
|
|
|
(15,329)
|
|
|
Net increase in accrued annual leave ........
|
|
|
|
969
|
|
Balance, June 30, 1984 .....................
|
$2,314,315
|
$776,485
|
$561,960
|
$60,689
|
43
|
 |
