June 30,1996
(Amounts in thousands unless otherwise stated)
In August, $120 million of general obligation bonds were issued, maturing at various dates through 2016 and having interest rates of 4.5% to 6.5%.
In October, $229.8 million of special tax obligation bonds for transportation infrastructure programs were issued. These consisted of $150 million of serial bonds and $79.8 million of refunding serial bonds maturing on various dates through 2016 and bearing interest rates of 4% to 6%. The refunding bonds were used to advance refund $79.7 million of bonds bearing interest rates of 6.25% to 6.5%.
Also in October, the State issued $100 million of Special Assessment Second Injury Fund Revenue Bonds. The issuance of these special obligation bonds was for the purpose of settling claims on a one-time, lump-sum basis in the Second Injury Trust Fund. The bonds are to be paid by assessments already being levied on insured employers and self-insured employers and will mature on various dates through 2012 and bear interest rates of 4.25% to 6%.
In November, $159.1 million of general obligation bonds were issued. These bonds will mature at various dates through 2016 and have interest rates of 3.6% to 6.5%. $81.6 million of the total bonds issued were used to advance refund $77.4 million of bonds bearing interest rates of 6.2% to 7.125%.
Also in November, $80 million of taxable general obligation bonds were issued, maturing in 2005 and 2006 and which will bear interest at the Periodic Auction Reset Securities rate. The rate used initially will be 5.35%.
In December, $77.5 million of general obligation bonds were issued, maturing at various dates through 2006 and having interest rates of 3.75% to 5%.
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