| SCHEDULE E-3 | ||||||
| CHANGES IN BONDS AND NOTES OUTSTANDING JULY 1, 1998 TO JUNE 30, 1999 (In Thousands) |
||||||
| OUTSTANDING 7/1/1998 (Restated) |
ADDITIONS 1998-99 |
RETIRED/ DEFEASED 1998-99 |
OUTSTANDING 6/30/99 |
|||
|---|---|---|---|---|---|---|
| Bonds Redeemable From General and Transportation | ||||||
| Fund Revenues | ||||||
| Capital Improvements and Other Purposes | $ 1,862,635 | $ 223,338 | $ 133,830 | $ 1,952,143 | ||
| School Construction | 840,519 | 281,500 | 136,812 | 985,207 | ||
| Municipal and Other Grants and Loans | 1,544,730 | 214,342 | 270,679 | 1,488,393 | ||
| Elderly Housing | 28,055 | - | 363 | 27,692 | ||
| Elimination of Water Pollution | 314,488 | 57,875 | 29,138 | 343,225 | ||
| Public Transportation | 10,000 | - | 8,000 | 2,000 | ||
| Specific Highway Purposes | 10,598 | 5,400 | 530 | 15,468 | ||
| Infrastructure Improvement | 3,050,357 | 225,000 | 158,075 | 3,117,282 | ||
| Other Transportation | 10,660 | 155 | 7,555 | 3,260 | ||
| General Obligation Refunding | 1,492,340 | 185,445 | 76,830 | 1,600,955 | ||
| Miscellaneous | 108,799 | 75,560 | 90,126 | 94,233 | ||
| Total From General and Transportation Funds | 9,273,181 | 1,268,615 | 911,938 | 9,629,858 | ||
| Bonds Redeemable From Other Sources | ||||||
| Unemployment Compensation | 689,755 | - | 145,000 | 544,755 | ||
| University and State University | 98,738 | - | 6,680 | 92,058 | ||
| Bradley International Airport | 84,690 | - | 3,240 | 81,450 | ||
| Rental Housing | 111,765 | - | 25,865 | 85,900 | ||
| Clean Water Fund | 464,300 | 203,995 | 95,785 | 572,510 | ||
| Regional Market | 903 | - | 600 | 303 | ||
| Second Injury Fund | 96,060 | - | 4,880 | 91,180 | ||
| Total From Other Sources | 1,546,211 | 203,995 | 282,050 | 1,468,156 | ||
| Total Bonds Outstanding | $ 10,819,392 | $ 1,472,610 | $ 1,193,988 | $ 11,098,014 | ||
| Notes Redeemable from General Fund Revenue | ||||||
| Economic Recovery Notes | $ 78,055 | $ - | $ 78,055 | $ - | ||
| During the fiscal year, two bond refundings took place with the bond proceeds along with any additional funds being placed in an an irrevocable trust for investments in U.S. Government Securities and eventual payment of the following bonds which are now considered defeased. Additionally, $80 million in variable rate bonds were converted to fixed rate bonds. In December 1998, $59.2 million of Connecticut Health and Educational Facilities Authority (CHEFA) outstanding revenue bonds were reclassified as a direct long-term obligation of the state after two nursing homes had defaulted in their loan repayments. Those bonds were subsequently defeased in January 1999 using $68.4 million from the June 30, 1998 surplus. Also, the beginning balance of University and State University was adjusted to reflect additional student fee revenue bonds which were issued in January 1998. | ||||||
| Refunding Date | Refunding Bonds Issued |
Defeased Bonds |
||||
| July 1998 | $ 105,445 | $ 92,475 | - with various due dates from | |||
| August 1, 1999 through 2008 | ||||||
| May 1999 | $ 78,995 | $ 74,080 | - with various due dates from | |||
| July 1, 2002 through 2016 | ||||||
| Totals | $ 184,440 | $ 166,555 | ||||
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