under these obligations, along with the present value of the related net minimum payments as of June 30, 1999
(amounts expressed in thousands).

Years Ending	Capital Leases	Obligations with
June 30,	Third Parties	Component Units
2000 .......................................................................................	$ 55,230	$ 23,495
2001 ..................................................................	54,657	28,147
2002 .............................................................	29,824	27,995
2003 .................................................................	24,611	27,817
2004 .................................................................	21,590	28,560
2005 and thereafter..............................................	202,901	444,089
Total future minimum payments .....................	388,813	580,103
Less: Amount representing interest................	137,554	269,790
Present value of net minimum payments .........	$251,259	$310,313

B. Long Term Obligations — Enterprise Funds —

The enterprise fund long-term obligations as of June 30, 1999, consist of the following (amounts expressed in
thousands).

Community Development Administration Revenue Bonds ....................................................	$2,462,918
Maryland Water Quality Financing Administration Revenue Bonds ....................................	134,092
Total Revenue Bonds..............................................................................................................	2,597,010
Maryland State Lottery Agency Notes Payable.. .............. ........................................................	2,890
Accrued Self-Insurance Costs....................................................................................................	533
Accrued Annual Leave ..............................................................................................................	1,375
Total long-term obligations....................................................................................................	$2,601,808

Maturities of enterprise funds notes payable and revenue bond principal are as follows (amounts expressed in
thousands).

		Maryland	Maryland
	Community	Water Quality	State
Years Ending	Development	Financing	Lottery
June 30,	Administration	Administration	Agency
2000......................................................................................................................................................	$ 152,713	$ 8,434	$1,032
2001......................................................................................................................................................	54,264	8,864	1,117
2002......................................................................................................................................................	57,670	9,054	741
2003......................................................................................................................................................	62,566	8,479
2004......................................................................................................................................................	64,588	8,240
2005 and thereafter ............................................................................................................................	2,071,117	91,021
	$2,462,918	$134,092	$2,890

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 for various mortgage loan programs. Assets aggregating approximately
$2,759,753,000, and revenues of each mortgage loan program are pledged as collateral for the revenue bonds.
Interest rates range from 3.1% to 10.4%, with the bonds maturing serially through July 2041. The principal amount
outstanding as of June 30,1999, is $2,462,918,000. Substantially all bonds are subject to redemption provisions at
the option of the Administration. Redemptions are permitted at rates ranging from 100% to 103% of the outstanding
principal amount. During fiscal year 1999, the Administration issued $355,880,000 of revenue bonds with interest
rates ranging from 3.1% to 5.4% and maturing serially through July 2041.

Subsequent to June 30,1999, the Administration issued and redeemed a total of $156,585,000 and $86,406,000
respectively, of revenue bonds.

Maryland Water Quality Financing Administration (Administration) — Revenue Bonds —

The Administration, an agency of the Department of Environment, has issued revenue bonds for making loans.
Interest rates range from 4.1% to 6.9% with principal of $113,542,000 due serially from September 1, 1998 to
September 1, 2014, and term bonds aggregating principal of $20,550,000 due from September 1, 2013 to 2015.
These bonds are payable solely from the revenue, money or property of the Administration. The bonds are subject
to redemption provisions at the option of the Administration. Redemptions are permitted at premiums ranging up
to 2.5% of the outstanding principal amount.

On June 23, 1999, the Maryland Water Quality Financing Administration liquidated the Washington County
1993 A Series loan receivable of $7,291,000 and advance refunded $6,785,000 of Series 1993 A bonds bearing an

60