General obligation bonds outstanding and bonds authorized but unissued, as of June 30,1990, were as follows
(amounts expressed in thousands):

			Authorized But
	Outstanding		Unissued
Purpose	Interest Rates	Amount	Amount
General construction ..................................	5.7 % to 11.3%	$827,883	$431,891
Public school construction .............................	4.7 to 11.0	565,465	109,710
Water quality ........................................	5.75 to 11.0	165,745	131,395
Sanitary facilities and sewage treatment .................	4.7 to 11.0	9,700	19,105
Hospitals and nursing homes ...........................	4.7 to 9.2	33,340	8,530
Community colleges and vocational schools ...............	5.0 to 11.0	24,105	24,000
Housing loans .......................................	8.2 to 11.0	47,080	5,503
Jails and correctional institutions .......................	4.75 to 11.0	84,616	107,821
Private colleges ......................................	5.7 to 11.3	30,679	19,454
Social, cultural and historical ...........................	4.7 to 11.0	64,386	25,146
Other ..............................................	.... 8.2 to 11.0	133,907	110,375
		$1,986,906	$992,930

As of June 30, 1990, general obligation debt service requirements for principal and interest in future years
were as follows (amounts expressed in thousands):

Years Ending		Years Ending
June 30,	Total	June 30,	Total
1991 .................	$381,994	1999 .................	$144,634
1992 .................	320,877	2000 .................	144,853
1993 .................	284,191	2001 .................	111,986
1994 .................	261,737	2002 .................	96,506
1995 .................	271,226	2003 .................	77,762
1996 .................	236,256	2004 .................	42,782
1997 .................	221,128	2005 .................	24,080
1998 .................	196,304

On July 17,1990, general obligation bonds aggregating $95,000,000 were issued with a discount of $932,000.
The interest rates on this issue range from 6.4% to 6.8% and the bonds mature serially through 2006. On October
16,1990, general obligation bonds aggregating $95,000,000 were issued with a discount of $949,000. The interest
rates on this issue range from 6.1% to 7.1% and the bonds mature serially through 2006.

10. Transportation Bonds:

Transportation Bonds outstanding as of June 30,1990, were as follows (amounts expressed in thousands):

	Outstanding
Consolidated Transportation Bonds— 5.2% to 9.0%, due serially through 2005 ...........	$550,000
County Transportation Bonds— 4.0% to 5.6% Refunding Series, due serially through 1998 .	27,300
County Transportation Bonds— 5.3% to 11.0%, due serially through 2004 ...............	130,405
	$707,705

Consolidated Transportation Bonds are limited obligations issued by the Department of Transportation
(Department) for highway, port, airport or mass transit facilities or any combination of such facilities, the
principal of which must be paid within 15 years from the date of issue. The outstanding aggregate principal
amount of these bonds may not by law exceed $950,000,000. At June 30,1990, the principal amount of additional
bonds which may be issued under this limitation was $400,000,000.

Consolidated Transportation Bonds are paid from the transportation debt service fund except for the Bond
Anticipation Notes (none outstanding at June 30, 1990) which are paid from the proceeds of Consolidated
Transportation Bonds which are deposited in the special revenue fund. Principal of and interest on Consolidated
Transportation Bonds are payable from the proceeds of certain excise taxes levied by statute and the corporate
income tax as credited to the Department. These amounts are applicable to the extent necessary for that exclusive
purpose before being available for other uses by the Department. If those tax proceeds become insufficient to meet
debt service requirements, other receipts of the Department are available for that purpose. The holders of such
bonds are not entitled to look to other State resources for payment.

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