11. Changes in General Long-Term Debt:

Changes in general long-term debt, for the year ended June 30, 1991, are summarized as follows (amounts
expressed in thousands):

Balance, July 1, 1990 ...................	Loans From Other Funds	General Obligation Bonds $1,986,906	Transportation Bonds $ 707,705	Accrued Retirement Costs $321,481	Accrued Workers' Compensation Costs $51,046	Accrued Annual Leave $119,015	Obligations Under Capital Leases $42,979
Increase in loans from other funds ........	$25,000
Bond Issuances ........................		296,787	326,550
Increase in obligations under capital leases .							26,648
Bond principal retirements ..............		(245,256)	(30,875)
Retirement of obligations under capital
leases ..............................							(11,503)
Excess of expenditures in governmental
fund types over actuarially determined
retirement costs ......................				(40,544)
Amortization of prior years' liability for
unfunded retirement costs .............				(9,632)
Net increase in accrued workers'
compensation costs ...................					9,995
Net increase in accrued annual leave .......						7,822
Balance, June 30, 1991 ..................	$25,000	$2,038,437	$1,003,380	$271,305	$61,041	$126,837	$58,124

12. Other Long-Term Obligations:

A. Governmental Fund Types:
Loans from Other Funds:

In accordance with a Memorandum of Understanding dated September 10, 1990, the Maryland
Transportation Authority (Authority) will transfer $75,000,000 to the Department of Transportation
(Department). These funds are being transferred on an interest free basis at the rate of $25,000,000 per year in
fiscal years 1991 through 1993. The Authority made its first transfer in May 1991. The Department shall repay
these funds at the rate of $25,000,000 per year beginning in fiscal year 1995. In the event the $75,000,000, or any
part of it, is not appropriated or repaid to the Authority in accordance with the repayment schedule, the
Department is required to pay interest at the rate of 8% per annum on the unpaid balance.

Obligations Under Capital Leases:

Obligations under capital leases of $58,124,000 exist as of June 30, 1991 bearing interest at annual rates
ranging from 4.6% to 9.25%. The following is a schedule of annual future minimum payments under these
obligations, along with the present value of the related net minimum payments as of June 30, 1991 (amounts
expressed in thousands):

Years Ending
June 30,	Amount
1992 ............................................................................	$11,963
1993 ............................................................................	11,208
1994 ............................................................................	9,314
1995 ............................................................................	8,788
1996 ............................................................................	7,468
1997 and thereafter ...............................................................	41,418
Total future minimum payments .....................................................	90,159
Less amount representing interest ...................................................	32,035
Present value of net minimum lease payments ..........................................	$58,124

B. Enterprise Funds:

Community Development Administration (Administration):

Revenue Bonds:

The Administration, an agency of the Department of Housing and Community Development, has issued
revenue bonds, the proceeds of which were used to provide funds for its various mortgage loan programs. Assets
aggregating approximately $2,241,844,000 and revenues of each mortgage loan program are pledged as collateral
for the revenue bonds. Interest rates range from 4.9% to 14% and the bonds mature serially through May 15,
2032. The balance at June 30,1991 is $2,030,304,000.

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