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 Ten Fiscal Years
(Expressed in Thousands)(1)
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Year ended
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June 30,
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1987
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1986
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1985
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1984
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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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Revenues:
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Taxes and fees:
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Taxes pledged to bonds
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$480,513
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$438,886
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$403,372
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$375,075
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$297,593
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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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Other taxes and fees
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134,086
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127,130
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118,161
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126,861
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106,944
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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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Total taxes and fees
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614,599
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566,016
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521,533
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501,936
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404,537
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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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Operating revenues
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129,912
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126,021
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126,125
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121,409
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100,291
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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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Investment income
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10,957
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13,644
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16,812
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12,785
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6,431
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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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Other
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4,228
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5,419
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3,352
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4,056
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1,449
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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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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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759,696
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711,100
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667,822
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640,186
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512,708
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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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Administration, operation, and maintenance
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expenditures
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435,281
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423,502
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379,563
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345,469
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319,923
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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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Less federal funds
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(20,801)
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(19,648)
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(21,245)
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(20,274)
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(19,221)
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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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Total
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414,480
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403,854
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358,318
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325,195
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300,702
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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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Net revenues
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$345,216
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$307,246
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$309,504
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$314,991
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$212,006
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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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$187,289
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Maximum annual principal and interest
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requirements
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$ 33,594
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$ 25,175
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$ 46,084
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$ 53,008
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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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Ratio of net revenues to maximum annual
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principal and interest requirements
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10.27
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12.20
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6.72
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5.94
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4.00
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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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Ratio of taxes pledged to bonds to maximum
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annual principal and interest requirements
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14.30
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17.43
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8.75
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7.08
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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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Source: The Secretary's Office of the Department of Transportation.
(1) Under the terms of the bond authorizing resolutions, additional Consolidation Transportation Bonds may be issued, provided, among other conditions,
that (i) total receipts, less administration, operation and maintenance expenditures for the preceeding 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.
STATE OF MARYLAND
Schedule of 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 wi
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Rate141
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1987
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4,464,000
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N/A
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880,409
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4.4%
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1986
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4,396,000
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16,588
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871,996
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4.3
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1985
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4,387,000
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15,864
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874,540
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4.4
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1984
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4,354,000
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14,121
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888,428
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5.8
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1983
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4,319,000
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12,994
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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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12,237
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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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11,533
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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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10,385
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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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9,319
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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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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 Employment and Training
N/A Not available at this date.
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