Adjusted Executive Legislative
Approp. Request Approp.
2001-02 2002-03 2002-03 Change
DEBT SERVICE
Fiduciary 40,000,000 40,000,000 40,000,000 0
Debt Service Fund 4,739,950,000 3,916,175,000 3,968,175,000 52,000,000
Internal Service Fund 210,000,000 110,000,000 110,000,000 0
Capital Projects Fund
Other 525,000,000 625,000,000 625,000,000 0
Total for DEBT SERVICE: 5,514,950,000 4,691,175,000 4,743,175,000 52,000,000
Fiduciary
School Capital Facilities Financing Reserve Fund
Principal and Interest on
Serial Bonds 40,000,000 40,000,000 40,000,000 0
Debt Service Fund
Debt Reduction Reserve Fund
Debt Reduction 500,000,000 0 0 0
Mental Health Services Fund
Financing Agreements 355,000,000 370,000,000 370,000,000 0
General Debt Service Fund
Principal and Interest on
Serial Bonds 715,000,000 580,000,000 580,000,000 0
Financing Agreements 2,457,600,000 2,444,650,000 2,496,650,000 52,000,000
Lease Purchase Payments 62,100,000 61,525,000 61,525,000 0
Housing Debt Fund
Principal and Interest on
Serial Bonds 29,000,000 28,000,000 28,000,000 0
Health Income Fund
Financing Agreements 37,250,000 35,000,000 35,000,000 0
Financing Agreements 2,000,000 2,000,000 2,000,000 0
Emergency Highway Reconditioning and
Preservation Fund
Financing Agreements 32,000,000 0 0 0
State University Dormitory
Income Fund
Financing Agreements 55,000,000 70,000,000 70,000,000 0
Emergency Highway Construction
and Reconstruction Fund
Financing Agreements 32,000,000 0 0 0
Local Government Assistance
Tax Fund Financing
Agreements 463,000,000 325,000,000 325,000,000 0
Internal Service Fund
Centralized Services Fund
Financing Agreements 210,000,000 110,000,000 110,000,000 0
Capital Projects Fund
Other Dedicated Highway and
Bridge Trust Fund
Financing Agreements 525,000,000 625,000,000 625,000,000 0
LEGISLATIVE ACTION
Legislative Additions
The Legislature increases the appropriation from the General Debt Service Fund by
$5,000,000 to reflect bonds to be issued by the Urban Development Corporation for
homeland security and improvements to State buildings.
The Legislature increases the appropriation from the General Debt Service Fund by
$4,000,000 to reflect bonds to be issued by the Urban Development Corporation for
the Jobs Now program.
The Legislature increases the appropriation from the General Debt Service Fund by
$19,000,000 to reflect bonds to be issued by the Dormitory Authority for building
improvements in the State’s school districts.
The Legislature increases the appropriation from the General Debt Service Fund by
$3,000,000 to reflect bonds to be issued by the Dormitory Authority for improvements
to the Court of Appeals and other courthouses.
The Legislature increases the appropriation from the General Debt Service Fund by
$21,000,000 to reflect bonds to be issued by the Environmental Facilities Corporation
for environmental infrastructure projects.
Article VII
The Legislature approves the legislation proposed by the Executive that would
authorize the State to issue variable rate debt and enter into interest rate exchange
agreements for all state-supported debt. The amount of variable rate debt that can be
issued and interest rate exchange agreements that can be entered into is limited to 15
percent of outstanding debt.
The Legislature denies the legislation proposed by the Executive that would authorize
the issuance of refunding bonds on State-supported debt without approval by the Public
Authorities Control Board.
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