DEBT ADMINISTRATION

The ratios of net bonded debt to assessed property value, debt to present market value, and bonded debt per
capita are considered to be useful indicators of the State's debt position to State management, citizens and investors.
Data for fiscal years 1993 to 1999 are shown as follows:

		Ratio of Net	Ratio of
		Bonded Debt	Debt to
	Amount	to Assessed	Estimated	Bonded
	(expressed	Value (46.6% of	Market	Debt Per
	in thousands)	Present Market)	Value	Capita
General Obligation Bonds:
1999	$3,500,228	2.36%	1.10%	$681.67
1998	3,270,525	2.26	1.06	642.03
1997	3,025,394	2.18	1.01	596.49
1996	2,859,939	2.10	.97	567.17
1995	2,619,069	1.98	.91	519.04
1994	2,504,004	1.93	.89	504.33
1993	2,279,390	1.83	.85	464.42

General Obligation Bonds Principal Outstanding

Source: Office of Administration and Finance, Maryland State Comptrollers Office, 1999.

Ratio of Bonded Debt to Value of Taxable Property

Source: The Forty-sixth through Fifty-fifth Report of the State Department of Assessments and Taxation.

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