|
|
|
|
Total
|
|
|
|
|
Transportation
|
|
|
Consolidated
|
County
|
Bond Debt
|
|
Years ending
|
Transportation
|
Transportation
|
Service
|
|
June 30,
|
Bonds
|
Bonds
|
Requirements
|
|
1986
|
$57,307
|
$33,516
|
$90,823
|
|
1987
|
25,754
|
23,891
|
49,645
|
|
1988
|
25,595
|
18,513
|
44,108
|
|
1989
|
22,390
|
18,594
|
40,984
|
|
1990
|
20,299
|
18,697
|
38,996
|
|
1991
|
19,264
|
18,757
|
38,021
|
|
1992
|
18,214
|
18,825
|
37,039
|
|
1993
|
17,173
|
18,837
|
36,010
|
|
1994
|
10,105
|
18,411
|
28,516
|
|
1995
|
3,490
|
18,463
|
21,953
|
|
1996
|
4,280
|
11,334
|
15,614
|
|
1997
|
|
10,519
|
10,519
|
|
1998
|
|
5,784
|
5,784
|
|
1999
|
|
3,088
|
3,088
|
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. 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
accompanying financial statements. At June 30, 1985, the refunded bonds outstanding were $126,970,000.
10. Changes in General Long-Term Debt:
Changes in general long-term debt (amounts expressed in thousands) for the year ended June 30, 1985, are
summarized as follows:
|
|
General
|
Trans-
|
Accrued
|
Accrued
|
|
|
Obligation
|
portation
|
Retirement
|
Annual
|
|
|
Bonds
|
Bonds
|
Costs
|
Leave
|
|
Balance, July 1, 1984 .....................
|
$2,314,315
|
$776,485
|
$561,960
|
$60,689
|
|
Bond issuances ..........................
|
138,990
|
24,210
|
|
|
|
Bond principal retirements ................
|
(222,010)
|
(4,435)
|
|
|
|
Excess of actuarially determined retirement
|
|
|
|
|
|
costs over the amounts recorded as
|
|
|
|
|
|
expenditures in governmental fund types . .
|
|
|
13,852
|
|
|
Amortization of prior years' liability for
|
|
|
|
|
|
unfunded retirement costs ...............
|
|
|
(15,490)
|
|
|
Net increase in accrued annual leave .......
|
|
|
|
3,828
|
|
Balance, June 30, 1985 ...................
|
$2,231,295
|
$796,260
|
$560,322
|
$64,517
|
43
|
 |
