Certain notes receivable for advances of general obligation bond proceeds bear interest at rates ranging from 4.0% to 9.2% and
mature over approximately 28 years.

Water quality project loans consist of loans to various local governments and other governmental entities in the State for
wastewater projects under the United States Environmental Protection Agency's (EPA) Capitalization Grants for State Revolving
Funds federal assistance program.

The permanent mortgage loans consist of financing for single and multi-family projects, rental projects, small businesses,
industrial sites and various other purposes.

Student and health profession loans are made pursuant to student loan programs funded through the U.S. Government.

B. Investment in Direct Financing Leases:

As of June 30,2000, the Maryland Environmental Service (Service) has direct financing leases with the State of Maryland. The
present value of the direct financing leases as of June 30,2000, is $9,356,000. As of June 30,2000, the Service held $3,684,000 to be
spent to complete assets under these direct financing leases. Lease payments receivable (including unearned interest) for each of the
five succeeding fiscal years and thereafter, including repayment of amounts to be spent, consist of the following (expressed in
thousands).

2001.....................................................................................................................................................	$ 1,941
2002.....................................................................................................................................................	1,804
2003.....................................................................................................................................................	1,649
2004.....................................................................................................................................................	1,550
2005.....................................................................................................................................................	1,394
2006 and thereafter..............................................................................................................................	9,537
Tbtd............................................................»	17,875
Less: Unearned interest income .......................................................................................................	4,835
	13,040
Restricted investments related to unexpended bond proceeds .........................................................	3,684
Net investments in direct financing leases ...................................................................................	$ 9,356

As of June 30, 2000, the Maryland Stadium Authority (Authority) has direct financing leases with the State of Maryland.
The present value of the direct financing leases as of June 30, 2000, is $293,492,000. As of June 30, 2000, the Authority held
$28,000 to be spent to complete assets under these direct financing leases. Lease payments receivable (including unearned
interest) for each of the five succeeding fiscal years and thereafter, including repayment of amounts to be spent, consist of the
following (expressed in thousands).

2001.....................................................................................................................................................	$ 25,932
2002.....................................................................................................................................................	25,909
2003.....................................................................................................................................................	25,876
2004.....................................................................................................................................................	26,702
2005.....................................................................................................................................................	25,636
2006 and thereafter ..............................................................................................................................	402,443
Total..................................................................................................................................	532,498
Less: Unearned interest income ......................................................................................................	238,978
	293,520
Restricted investments related to unexpended bond proceeds .........................................................	28
Net investments in direct financing leases ...................................................................................	$293,492

8. Property, Plant And Equipment:

A. Enterprise Funds:

Property, plant and equipment of the Enterprise funds, as of June 30, 2000, consists of the following (amounts expressed in thousands).

Structure and improvements ................................................................................................................	$ 1,028
Equipment...........................................................................................................................................	30,951
	31,979
Less: Accumulated depreciation...........................................................................................................	23,289
Total...............................................	$ 8,690

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