Maryland Transportation Authority Bonds -

Bonds outstanding as of June 30,2000, are as follows (amounts expressed in thousands).

Series 1991 Revenue bonds, maturing in annual installments from $6,355 to $9,380 from July 1, 2000,
to July 1, 2006, with interest rates ranging from 6.1% to 6.5%, payable semiannually ..............................................	$ 39,520
Series 1992 Revenue bonds, maturing in annual installments from $6,165 to $14,570 from July 1, 2000,
to July 1, 2013, with interest rates ranging from 5.2% to 5.8%, payable semiannually ..............................................	72,225
Capital appreciation bonds maturing in annual installments of original principal and an accreted amount ranging
from $3,000 to $15,420 from July 1, 2004, to July 1, 2015, with approximate yield to maturity of 6.0% to 6.4%.....	66,179
Current interest term bonds with interest payable semiannually at 5.8%, due July 1, 2015 ...........................................	27,020
Series 1998 Revenue Refunding Bonds maturing in annual installments ranging from $185 to $9,510
from July 1, 2000 to July 1, 2006 with interest rates ranging from 4.1% to 5.0%, payable semiannually... ................	16,200
Series 1994, Special Obligation Revenue bonds maturing in annual installments from $3,830 to $12,230 from
July 1, 2000 to June 30, 2020, -with interest rates ranging from 4.1% to 6.3% payable semiannually.........................	97,530
Total......................................................	$318,674

The Maryland Transportation Authority (Authority) has issued Transportation Facilities Projects Revenue Bonds, Series 1991
and 1992, which are payable solely from the revenues of the transportation facilities projects.

The Series 1991 Revenue Bonds, the bonds maturing after July 1,2001, are subject to redemption, at the Authority's option on
or after July 1,2001. The redemption prices range from 100% to 102% of the principal amount. The debt service reserve requirement
for the 1991 Revenue Bonds, in the amount of $9,990,000, has been satisfied through a surety bond.

With respect to the 1992 Revenue Bonds, $13,130,000 of the current interest term bonds stated to mature on July 1,2015, are
subject to mandatory sinking fund redemption on July 1,2014, at a redemption price equal to the principal amount, plus accrued
interest. The debt service reserve requirement for these bonds, in the amount $22,107,000, has been satisfied through the deposit of
cash with the trustee and is included in the debt service fund on the balance sheet. The current interest serial bonds stated to mature
on July 1,2013, and the balance of the current interest term bonds stated to mature on July 1,2015, are subject to redemption at the
option of the authority on or after July 1,2002, without premium. The capital appreciation bonds are not subject to early redemption.
Capital appreciation bonds payable as of June 30,2000, include an accreted amount of $25,284,000.

During the year ended June 30,1994, the Authority issued $162,580,000 of Special Obligation Revenue Bonds, to finance a
portion of the Airport Facilities Projects located at Baltimore/Washington International Airport.

The Special Obligation Revenue Bonds are payable as to principal and interest solely from Passenger Facility Charges (PFCs)
received by the Maryland Aviation Administration (MAA) and deposited with the Trustee (Signet Trust Company) and amounts
deposited in the general account maintained by the Authority under the Trust Agreement. The Series 1994 Bonds issued in
accordance with the provisions of the 1985 Trust Agreement, as supplemented, and interest thereon, do not constitute a debt or
pledge of the faith and credit of the State of Maryland, the Maryland Department of Transportation or the MAA, but are payable
solely from PFCs.

In July 1999, the Authority made $13,905,000 in principal redemption payments in excess of the required payments for the Special
Obligation Revenue Bonds. Subsequent to year end, in July 2000, the Authority made $5,570,000 in principal redemption payments.

As of June 30, 2000, Maryland Transportation Authority Bond debt service requirements for principal and interest in future
years are as follows (amounts expressed in thousands).

Years Ending June 30,	Total	Years Ending June 30,	Total
2001 ......................... ..	............. $31,477	2011............................	........... $27,589
2002...........................	............. 31,499	2012............................	........... 27,590
2003...........................	............. 31,523	2013............................	........... 27,587
2004...........................	............. 36,301	2014 ............................	........... 27,594
2005...........................	............. 37,498	2015............................	........... 27,587
2006...........................	............. 37,531	2016............................	........... 18,045
2007...........................	............. 37,571	2017 ............................	........... 357
2008...........................	............. 27,594	2018............................	........... 356
2009...........................	............. 27,585	2019...........................	........... 356
2010...........................	............. 27,588	2020............................	........... 5,926

Obligations Under Capital Leases -

Obligations under capital leases as of June 30, 2000, bore interest at annual rates ranging from 3.4% to 7.7%. Capital Lease
Obligations with third parties in fiscal year 2000 increased by $54,489,000 of which $19,735,000 was for master equipment leases
entered into by the general fund and $34,754,000 for Department of Transportation and Maryland Transportation Authority
airport facilities and construction projects. The capital leases with component units include capital leases with the Maryland
Stadium Authority, which are being paid with the net proceeds transferred from certain Lottery games and capital leases with the

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