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STATE OF MARYLAND
Schedule of Taxes Pledged to Consolidated Transportation
Bonds and Net Revenues as Defined for Purposes of
Consolidated Transportation Bonds Coverage Tests
Last Ten Fiscal Years
(Expressed in Thousands) (1)
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Year Ended
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June 30,
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1991
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1990
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1989
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1988
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1987
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1986
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1985
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1984
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1983
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1982
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Revenues:
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Taxes and fees:
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Taxes pledged to bonds ............
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$535,131
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$571,567
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$581,073
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$577,224
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$480,513
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$438,886
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$403,372
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$375,075
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$297,593
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$245,732
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Other taxes and fees ..............
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160,437
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187,225
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188,242
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139,184
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134,086
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127,130
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118,161
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126,861
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106,944
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102,956
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Total taxes and fees .............
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695,568
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758,792
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769,315
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716,408
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614,599
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566,016
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521,533
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501,936
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404,537
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348,688
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Operating revenues .................
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160,014
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147,538
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142,248
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140,712
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129,912
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126,021
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126,125
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121,409
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100,291
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96,548
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Investment income .................
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10,106
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16,112
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9,077
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9,168
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10,957
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13,644
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16,812
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12,785
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6,431
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21,261
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Other ............................
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8,238
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6,888
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7,080
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8,444
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4,228
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5,419
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3,352
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4,056
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1,449
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971
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Total revenues ..................
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873,926
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929,330
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927,720
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874,732
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759,696
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711,100
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667,822
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640,186
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512,708
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467,468
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Administration, operation and
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maintenance expenditures ...........
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580,628
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544,268
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501,616
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472,183
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435,281
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423,502
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379,563
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345,469
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319,923
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280,561
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Less federal funds ....................
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(19,969)
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(16,791)
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(17,567)
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(17,771;
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) (20,801)
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(19,648)
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(21,245)
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(20,274)
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(19,221)
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(30,394)
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Total ..........................
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560,659
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527,477
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484,049
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454,412
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414,480
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403,854
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358,318
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325,195
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300,702
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250,167
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Net revenues ...................
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$313,267
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$401,853
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$443,671
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$420,320
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$345,216
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$307,246
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$309,504
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$314,991
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$212,006
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$217,301
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Maximum annual principal and interest
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requirements ......................
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$104,972
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$69,034
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$40,327
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$33,594
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$33,594
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$25,175
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$46,084
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$53,008
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$53,008
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$50,325
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Ratio of net revenues to maximum annual
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principal and interest requirements ....
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2.98
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5.82
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11.00
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12.51
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10.27
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12.20
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6.72
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5.94
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4.00
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4.32
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Ratio of taxes pledged to bonds to
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maximum annual principal and interest
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requirements ......................
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5.10
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8.28
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14.41
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17.18
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14.30
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17.43
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8.75
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7.08
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5.61
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4.88
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Source: The Secretary's Office of the Department of Transportation.
(1) Under the terms of the bond authorizing resolutions, additional Consolidation Transportation Bonds may be issued, provided, among other
conditions, that (i) total receipts, less administration, operation and maintenance expenditures for the proceeding fiscal year equal at least two times
maximum annual debt service on all Consolidated Transportation Bonds outstanding and to be issued and that (ii) total proceeds from pledged taxes
equal at least two times maximum annual debt service on all Consolidated Transportation Bonds outstanding and to be issued.
STATE OF MARYLAND
Schedule of Demographic Statistics
Last Ten Fiscal Years
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Fiscal
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Per Capita
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School
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Unemployment
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Year
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Population (1)
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Income (2)
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Enrollment (3)
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Rate(l)
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1991 ................
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........... 4,781,000
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N/A
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901,143
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5.7%
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1990 ...............
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........... 4,743,000
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$21,789
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880,035
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4.3
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1989 ...............
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........... 4,579,000
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21,013
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868,371
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4.5
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1988 ...............
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........... 4,520,000
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19,487
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858,342
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4.2
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1987 ...............
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........... 4,464,000
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17,722
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880,409
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4.4
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1986 ...............
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........... 4,396,000
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16,588
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871,996
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4.3
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1985 ...............
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........... 4,387,000
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15,864
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874,540
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4.4
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1984 ...............
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........... 4,354,000
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14,121
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888,428
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5.8
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1983 ...............
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........... 4,319,000
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12,994
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909,418
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8.0
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1982 ...............
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........... 4,265,000
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12,237
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925,622
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8.4
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Sources:
(1) State Department of Economic and Employment Development.
(2) U.S. Department of Commerce, Bureau of Economic Analysis.
(3) State Departments of Education and Higher Education.
N/A Not available at this date.
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