for repayment of general obligation bonds. During fiscal year 1999, the State issued $475,000,000 of general obligations
at a premium of $9,031,000 with related issuance costs of $226,000.
Bonds issued after January 1, 1988, are subject to redemption provisions at the option of the State.
As of June 30, 1999, the State has $181,750,000 of defeased debt outstanding, none of which was defeased during
the year ended June 30, 1999.
General obligation bonds issued and outstanding, as of June 30, 1999, are as follows (amounts expressed in
thousands).
|
|
Interest
|
Principal
|
Principal
|
Issue
|
Maturity-
|
Rates
|
Issued
|
Outstanding
|
9/6/84
|
1988-2000
|
8.50-9.00
|
$ 138,990
|
$ 16,645
|
3/13/86
|
1989-2001
|
6.40-6.50
|
124,585
|
27,745
|
7/24/86
|
1990-2002
|
6.50-6.70
|
164,645
|
50,710
|
7/9/87
|
1991-2003
|
6.30-6.50
|
144,860
|
56,715
|
10/25/88
|
1991-2003
|
6.00-7.00
|
80,000
|
6,815
|
3/1/89
|
1992-2004
|
6.25-6.80
|
80,000
|
6,810
|
7/18/89
|
1992-2004
|
6.40-6.50
|
80,000
|
13,160
|
3/3/90
|
1993-2005
|
6.00-6.70
|
130,000
|
21,380
|
5/1/90
|
1995-2000
|
6.10-6.60
|
24,227
|
7,621
|
7/17/90
|
1994-2006
|
6.40-6.80
|
95,000
|
31,350
|
10/16/90
|
1994-2006
|
6.10-7.10
|
95,000
|
22,755
|
3/26/91
|
1994-2006
|
5.50-6.50
|
95,000
|
40,360
|
7/1/91
|
1996-2001
|
5.60-6.10
|
11,787
|
3,792
|
7/23/91
|
1995-2007
|
5.50-6.50
|
100,000
|
59,770
|
10/22/91
|
1995-2007
|
5.10-6.10
|
120,000
|
84,095
|
5/27/92
|
1995-2007
|
4.40-6.00
|
120,000
|
84,015
|
2/2/93
|
1996-2008
|
4.75-5.50
|
130,000
|
98,980
|
6/3/93(a)
|
1994-2008
|
4.50-5.50
|
278,150
|
236,490
|
10/21/93(a)
|
1995-2009
|
3.00-4.75
|
283,545
|
249,295
|
3/3/94(a)
|
1995-2009
|
3.50-4.75
|
184,210
|
156,910
|
6/2/94
|
1997-2009
|
4.875-5.50
|
120,000
|
99,155
|
10/20/94
|
1998-2010
|
5.00-6.00
|
160,000
|
141,810
|
3/23/95
|
1998-2010
|
5.00-5.70
|
175,000
|
155,620
|
10/26/95
|
1998-2010
|
4.50-5.125
|
150,000
|
141,395
|
2/29/96
|
1999-2011
|
4.00-4.90
|
170,000
|
160,250
|
6/20/96
|
1999-2011
|
5.00-5.25
|
150,000
|
141,585
|
10/24/96
|
2000-2012
|
5.00
|
170,000
|
170,000
|
3/13/97
|
2000-2012
|
5.00
|
240,000
|
240,000
|
8/14/97
|
2001-2013
|
4.75-5.00
|
250,000
|
250,000
|
3/5/98
|
2001-2013
|
4.50-5.00
|
250,000
|
250,000
|
7/28/98
|
2002-2014
|
5.00-5.25
|
250,000
|
250,000
|
3/11/99
|
2002-2014
|
4.00-4.50
|
225,000
|
225,000
|
|
|
|
$4,789,999
|
$3,500,228
|
(a) Includes refunding debt
General obligation bonds authorized but unissued as of June 30, 1999, total $1,020,494,000.
As of June 30,1999, general obligation debt service requirements for principal and interest in future years are
as follows (amounts expressed in thousands):
Years Ending
|
|
Years Ending
|
|
June 30,
|
Total
|
June 30,
|
Total
|
2000 ...................................
|
....... $456,230
|
2008 ..............................
|
............ $298,911
|
2001 ...................................
|
....... 459,253
|
2009 ..............................
|
............ 270,740
|
2002 ...................................
|
....... 464,216
|
2010 ..............................
|
............ 231,190
|
2003 ...................................
|
....... 445,846
|
2011 ..............................
|
............ 194,659
|
2004 ...................................
|
....... 411,479
|
2012 ..............................
|
............ 145,280
|
2005 ...................................
|
....... 392,900
|
2013 ..............................
|
............ 101,824
|
2006 ...................................
|
....... 368,711
|
2014 ..............................
|
............ 49,131
|
2007 ...................................
|
....... 336,357
|
|
|
On July 14, 1999, general obligation bonds aggregating $125,000,000 were issued. The interest rates on this
issue range from 4.25% to 5.25% and the bonds mature serially through 2014.
Transportation Bonds ?
Transportation Bonds outstanding as of June 30, 1999, are as follows (amounts expressed in thousands).
|
Outstanding
|
Consolidated Transportation Bonds ? 3.9,% to 6.7%, due serially through 2011 ...................................................
|
............................... $284,800
|
Consolidated Transportation Bonds, Refunding? 3.8% to 5.5%, due serially through 2006.................................
|
............................... 464,330
|
County Transportation Bonds ? 5.4% to 6.2%, due-serially through 2006 .............................................................
|
............................... 5,605
|
1
|
$754,735
|
57
|
|