CAPITAL PROJECTS FUNDS
CHANGES IN BONDS AND NOTES OUTSTANDING | SCHEDULE E-3 | |||
---|---|---|---|---|
JULY 1, 2011 TO JUNE 30, 2012 | ||||
(In Thousands) | ||||
OUTSTANDING 6/30/2011 |
ADDITIONS 2011-12 |
RETIRED/ DEFEASED 2011-12 |
OUTSTANDING 6/30/2012 |
|
Capital Improvements and Other Purposes | $1,924,881 | $381,768 | $379,719 | $1,926,930 |
School Construction | 4,485,842 | 542,496 | 480,675 | 4,547,663 |
Municipal and Other Grants and Loans | 739,204 | 285,536 | 210,668 | 814,072 |
Elderly Housing | 169,130 | 34,930 | 14,200 | 189,860 |
Elimination of Water Pollution | 259,225 | 60,000 | 88,675 | 230,550 |
Specific Highway Purposes | - | - | - | |
Infrastructure Improvement | 3,357,595 | 455,075 | 525,330 | 3,287,340 |
Other Transportation | - | - | ||
General Obligation Refunding | 3,722,620 | 985,970 | 821,815 | 3,886,775 |
Pension Obligations | 2,276,578 | - | - | 2,276,578 |
Miscellaneous | 122,505 | 28,840 | 34,860 | 116,485 |
Total from General and Transportation Funds | 17,057,580 | 2,774,615 | 2,555,942 | 17,276,253 |
Bonds Redeemable From Other Sources | ||||
University and State University | 159,820 | - | 159,820 | - |
Bradley International Airport | 210,340 | - | 15,155 | 195,185 |
Clean Water Fund | 899,105 | - | 75,330 | 823,775 |
Total from Other Sources | 1,269,265 | - | 250,305 | 1,018,960 |
Total Bonds Outstanding | $18,326,845 | $2,774,615 | $2,806,247 | $18,295,213 |
Notes Redeemable from General Fund Revenue | ||||
Economic Recovery Notes | $915,795 | $- | $167,860 | $747,935 |
Total Notes Outstanding | $915,795 | $- | $167,860 | $747,935 |
Occasionally during the fiscal year, cash resulting from bond refunding was used to purchase investments in U.S. Government Securities which were placed into an irrevocable trust for the eventual payment of certain bonds which are considered to be defeased at the fiscal year end. A summary of these transactions follows.
Refunding Date | Refunding Bonds Issued |
Defeased Bonds |
- with various due dates from |
---|---|---|---|
Refunding | Defeased | ||
Refunding Date | Bonds Issued | Bonds | with various due dates from |
G.O. June 2012 | $523,245 | $586,190 | Dec. 2012 through June 2025 |
G.O. August 2011[a] | 280,000 | 280,000 | Immediate conversion of demand |
G.O. November 2011 | 150,820 | 162,230 | May. 2012 through November 2019 |
G.O. December 2011 | 31,905 | 33,735 | Feb. 2018 through Feb. 2023 |
S.T.O. December 2011 | 233,845 | 251,055 | Dec. 2012 through Dec. 2022 |
$1,219,815 | $1,313,210 |
[a] On August 1, 2011, the State reoffered $280.0 million in twelve year bonds for the purpose of converting the interest rate mode from variable rate demand to the SIFMA index on bonds originally issued in March 2005.