Source: https://www.scribd.com/document/20830722/2008-Debt-Report
Timestamp: 2016-09-27 02:43:26
Document Index: 350960794

Matched Legal Cases: ['§ 52', '§ 52', '§ 52', '§ 52', '§ 52', '§ 2', '§ 1', '§ 52', '§ 52', '§ 52', '§ 3', '§ 1', '§ 13', '§ 2']

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State of New Jerseyy
Commission on Capital
B dgeting and Planning
Addendum Dated November 7, 2008
2,801.345
27,394.702
1,668.210
Debt Report Total:
CAFR Adjustments (From Page E-1)
CAFR Total Long Term Debt:
31,864.257
12,644.298
44,508.555
Outstanding Debt Reconciliation to the Comprehensive Annual Financial Report (CAFR)
31,864.257 44,508.555
Obligations Not Included in CAFR
Chapter 12 - County College Bonds
NJEDA - Lafayette Yard Hotel Project
NJEFA - Capital Improvement Fund
NJEFA - Dormitory Safety Trust Fund
NJEDA - NJ Transit Light Rail System
Higher Ed. Student Assistance Authority
NJ Transit Corp. - Transportation Equipment
Sports & Expo Auth. - Conv. Center - Luxury Tax
(225.885)
(123.075)
(469.380)
(1,545.135)
(590.200)
(126.020)
Obligations Not Included in Report
Unamortized Discount on CAB's
Capital Appreciation Bond Accretion
NJTTFA - Garvee Bonds
Tobacco Settlement Financing Corp.
Capitalized Software Liability
Debt is on the various counties' books.
Bonds secured by City of Trenton PILOT revenues.
Portion of debt on various colleges' books.
Moral obligation; debt on SJ Port Corporation's books.
Obligation on NJ Transit Corporation's books.
Moral obligation; debt on Authority's books.
Revenues from Luxury Tax offset debt service.
(3,266.615)
595.856
1,279.358
3,177.400
4,760.192
1,400.562
(6,347.598)
7,873.255
3,496.542
Unsecuritized obligations reported in CAFR.
GASB accounting requirements.
Bonds secured solely by federal grants.
Bonds secured solely by Corporation revenues.
15,910.913
44,508.555 44,508.555
Debt Management Goals for FY 2009
Types of Debt Incurred by the State
Outstanding Debt Analysis as of June 30, 2008
Debt Comparison by Fiscal Year
Debt Reconciliation to the Comprehensive Annual Financial Report
Projected Debt of State Programs
General Obligation Program
School Facilties Construction Program
State Comparison of Selected Indicators and Rankings
Moody's Report, 2008 State Debt Medians
Outstanding Debt Amortization Tables
Bonds Issued Subsequent to June 30, 2008
Legislative Requirements in Brief
* A report on the State's overall debt.
Information on outstanding general obligation debt, capital leases
and installment obligations.
Debt service for the prior fiscal year.
Debt service for the current fiscal year.
Estimated debt service for the subsequent five fiscal years.
* An assessment of the State's ability to increase its overall debt and a
recommendation on the amount of any such increase.
Consideration of the criteria used by municipal securities rating services in rating
governmental obligations must be considered.
*** THIS SECTION IS CURRENT THROUGH NEW JERSEY 212TH LEGISLATURE ***
*** SECOND ANNUAL SESSION (P.L. 2007 CH. 203) & J.R. 12 ***
*** ANNOTATIONS CURRENT THROUGH OCTOBER 26, 2007 ***
CHAPTER 9S. COMMISSION ON CAPITAL BUDGETING AND PLANNING
GO TO THE NEW JERSEY ANNOTATED STATUTES ARCHIVE DIRECTORY
N.J. Stat. § 52:9S-1 (2007)
§ 52:9S-1. Definitions
As used in this act, the following words and terms shall have the following meanings, unless the
context shall indicate another or different meaning or intent:
a. "Capital project" means any undertaking which is to be financed or funded or is proposed to
be financed or funded by the issuance of bonds, notes or other evidences of indebtedness of the
State or any public authority thereof; or any undertaking which is to be financed or funded or is requested to be financed or funded by an appropriation in the annual budget, where the expenditure
therefor is, by statute, or under standards as they may be prescribed from time to time by the Department of the Treasury, a capital expenditure.
b. "Commission" means the New Jersey Commission on Capital Budgeting and Planning created by section 2 of this act;
c. "Plan" means the State Capital Improvement Plan provided for by subsection a. of section 3.
d. "State agency" means an executive or administrative department, office, public authority or
other instrumentality of State Government.
HISTORY: L. 1975, c. 208, 1, eff. Sept. 23, 1975.
N.J. Stat. § 52:9S-2 (2007)
§ 52:9S-2. New Jersey Commission on Capital Budgeting and Planning
There is hereby created a New Jersey Commission on Capital Budgeting and Planning. The commission shall consist of 12 members selected as follows: the State Treasurer and any three other
members of the Executive Branch designated by the Governor to so serve at his pleasure, two members of the General Assembly, two members of the Senate and four public members from the State
The members from the General Assembly shall be appointed by the Speaker of the General Assembly. The members of the Senate shall be appointed by the President of the Senate. No more than
one of the members appointed by the Speaker or President shall be from the same political party.
Legislative members shall serve while members of their respective houses for the term for which
they have been elected.
Of the four public members two shall be appointed by the Governor with advice and consent of
the Senate, no more than one of whom shall be of the same political party, and two by the Legislature, one each by the President of the Senate and the Speaker of the General Assembly, for a term of
six years and until their successors are qualified, provided that the members serving on the effective
date of this 1995 amendatory act shall continue to serve until the expiration of their appointments.
The President of the Senate shall make the first appointment of a public member upon the expiration of the term of the public member first occurring after the effective date of this 1995 amendatory
act, and the Speaker of the General Assembly shall make the second appointment of a public member upon the expiration of the term of the public member next occurring after the effective date of
this 1995 amendatory act. The public members shall be chosen based upon their experience and expertise in public finance and the capital improvement process. Any vacancy among the public
members shall be filled in the same manner as the original appointment, but for the unexpired term
only. A member shall be eligible for reappointment.
N.J. Stat. § 52:9S-2
A chairman of the commission shall be selected annually by the membership of the commission
from among the public members.
Members of the commission shall serve without compensation, but public members shall be entitled to reimbursement for expenses incurred in the performance of their duties.
HISTORY: L. 1975, c. 208, § 2; amended 1995, c. 398, § 1.
1. N.J.A.C. 7:7E-5B.1, Purpose and scope.
N.J. Stat. § 52:9S-3 (2007)
§ 52:9S-3. Preparation of State Capital Improvement Plan
a. The commission shall each year prepare a State Capital Improvement Plan containing its proposals for State spending for capital projects, which shall be consistent with the goals and provisions of the State Development and Redevelopment Plan adopted by the State Planning Commission and shall be prepared after consultation with the New Jersey Council of Economic Advisors,
created pursuant to P.L.1993, c.149 (C.52:9H-34 et seq.). Copies of the plan shall be submitted to
the Governor and the Legislature no later than December 1 of each year. The plan shall provide:
(1) A detailed list of all capital projects of the State which the commission recommends be undertaken or continued by any State agency in the next three fiscal years, together with information
as to the effect of such capital projects on future operating expenses of the State, and with recommendations as to the priority of such capital projects and the means of funding them;
(2) The forecasts of the commission as to the requirements for capital projects of State agencies
for the four fiscal years next following such three fiscal years and for such additional periods, if
any, as may be necessary or desirable for adequate presentation of particular capital projects, and a
schedule for the planning and implementation or construction of such capital projects;
(4) A review of capital projects which have recently been implemented or completed or are in
process of implementation or completion;
(5) Recommendations as to the maintenance of physical properties and equipment of State
N.J. Stat. § 52:9S-3
(7) A report on the State's overall debt. This report shall include information on the outstanding
general obligation debt and debt service costs for the prior fiscal year, the current fiscal year, and
the estimated amount for the subsequent five fiscal years. In addition, the report shall provide similar information on capital leases and installment obligations;
(8) An assessment of the State's ability to increase its overall debt and a recommendation on the
amount of any such increase. In developing this assessment and recommendation, the commission
shall consider those criteria used by municipal securities rating services in rating governmental obligations; and
(9) Such other information as the commission deems relevant to the foregoing matters.
(1) A detailed list of capital projects which each State agency seeks to undertake or continue for
its purposes in the next three fiscal years, together with information as to the effect of such capital
projects on future operating expenses of the State, and with such relevant supporting data as the
commission requests;
(2) Forecasts as to the requirements for capital projects of such agency for the four fiscal years
next following such three fiscal years and for such additional periods, if any, as may be necessary or
desirable for adequate presentation of particular capital projects, and a schedule for the planning and
implementation or construction of such capital projects;
(3) A schedule for the next fiscal year of requested appropriations of bond funds from issues of
bonds previously authorized;
(4) A report on capital projects which have recently been implemented or completed or are in
c. Each State agency shall, when requested, provide the commission with supplemental information in addition to that to be available to the commission under the computerized record keeping of
the Department of the Treasury, Bureau of Real Property Management, concerning any real property owned or leased by the agency including its current or future availability for other State uses.
d. A copy of the plan shall also be forwarded to the Division of Budget and Accounting each
year upon its completion, and the portion of the plan relating to the first fiscal year thereof shall, to
the extent it treats of capital appropriations in the annual budget, constitute the recommendations of
the commission with respect to such capital appropriations in the budget for the next fiscal year.
HISTORY: L. 1975, c. 208, § 3; amended 1979, c. 320, § 1; 1985, c. 398, § 13; 1995, c. 398, § 2.
Annual budget request and request for funding of capital projects, see 32:14-1.4.
Actively manage outstanding debt to minimize debt service costs and adjust to market
Issue debt under authorized programs at the lowest possible interest cost
consistent with providing funding for authorized programs.
Increase investor interest in state bonds in order to reduce relative interest cost.
Reduce outstanding debt in accordance with statute and upon budget appropriation.
Maintain the State's highest investment grade, short-term credit rating.
Improve the long-term credit rating of the State and its bond issuing authorities.
Opportunistically refund outstanding bonds to minimize debt service costs.
General Obligation Bonds are direct and general obligations of the State and the full faith and credit of
the State are pledged to the payment of the principal and interest as they become due.
The State's obligation to meet its payments on these instruments is subject to and dependent upon
appropriations being made on an annual basis by the State Legislature for such purpose. These bonds
are generally issued by an Independent Authority.
The authorizing legislation for certain State entities provides for specific budgetary procedures with
respect to certain obligations issued by such entities. Pursuant to such legislation, a designated
official is required to certify any deficiency in a debt service reserve fund maintained to meet payments
of principal and interest on the obligations, and a State appropriation in the amount of the deficiency
is to be made. However, the State Legislature is not legally bound to make an appropriation.
A direct substitute for the purchase of an asset with borrowed money. It is a noncancelable contract to
make a series of payments in return for use of an asset for a specified period of time. It transfers
substantially all the benefits and risks inherent in the ownership of the property to the lease.
A master lease arrangement using one lease agreement that allows the State, as Lessee, to access
tax-exempt financing for the procurement of essential personal property such as IT equipment,
vehicles, and furniture over a short term (3 yr) period. Repayment is subject to appropriation.
* The FY 2008 CAFR was not available as of the date of this Debt Report on November 7, 2008. This reconciliation is subject to the
completion of the FY 2008 CAFR and will be provided as an addendum to this Debt Report when CAFR data becomes available.
Total Debt Service ($ Millions)
James J. Howard Marine Lab
AAN/R
2,612.686
7,005.714
1,315.940
Equipment Leasing Fund
Facilities Trust Fund
Dormitory Safety Trust Fund
Public Library Project Grant Program
Open Space & Farmland Preservation Program
1,149.714
Dept. of Human Services Lease (Greystone Hospital)
Hospital Asset Transformation Program
State Contract Bonds
676.375
676.844
8,923.912
2,528.328
2,561.786
2,628.366
2,614.963
2,606.257
2,502.913
2,391.577
28,959.548
State Debt Service Total:
1,545.135
2,904.710
AAAAAAA (ins)
AAAAA (ins)
Aaa (ins)
Other Debt Service Total:
2,843.408
2,791.643
2,873.375
2,839.900
2,831.296
2,734.442
2,617.034
1,259.083
1,584.324
1,267.216
1,524.427
1,401.285
1,472.090
1,420.168
1,419.732
1,457.639
1,373.658
1,405.354
1,329.087
1,334.954
1,282.080
State Building Revenue Bonds
Trenton Office Complex
Liberty State Park Project
Liberty State Park, Liberty Science Center
Green Lights Energy Conservation
Dept. of Human Services Programs
State Office Buildings Acquisition
Municipal Rehabilitation
Designated Industries Economic Growth & Development Program
Motor Vehicle Surcharge Revenue
Motor Vehicle Surcharge Revenue (Special Needs Housing)
Lafayette Yard Hotel Project
Transportation System Bonds
Marine Terminal Revenue Bonds
Other Obligations (for which debt service
is offset by other revenues)
EDA - Economic Recovery Fund
EDA - NJ Transit Light Rail System
Higher Ed Student Assistance Auth.
NJ Transit - Transportation Equipment
SEA - Conv. Center - Luxury Tax
Fiscal Year Comparisons ($ Millions)
Authorized Unissued Debt
Liberty State Park (Park Project)
Liberty State Park (Liberty Science Center)
Municipal Rehabilitation Bonds
Motor Vehicle Surcharges Revenue
Motor Vehicle Surcharges Revenue - Special Needs Housing
2,832.060
295.520
2,646.714
5,946.724
1,149.744
742.380
State Capital Construction Project Bond Program
2,479.071
5,129.071
205.015
615.885
7,982.892
26,972.326
1,590.985
Other Obligation Totals:
2,746.995
29,719.322
State Obligation Totals:
NJEDA - Economic Recovery Fund
Sports & Expo Authority - Convention Center - Luxury Tax
7,108.043
5,936.988
10,877.952
12,181.229
SUBJECT TO THE COMPLETION OF THE FY 2008 CAFR
CAFR*
* The FY 2008 CAFR was not available as of the date of this Debt Report on November 7, 2008. This reconciliation is subject to the completion
of the FY 2008 CAFR and will be provided as an addendum to this Debt Report when CAFR data becomes available.
State Debt Programs with Remaining
Unissued Authorizations,
Existing and Anticipated Debt Issuances:
A. State Of New Jersey,
B. Transportation Trust Fund Authority,
C. Economic Development Authority, School
Facilities Construction Program
Anticipated Bond Issues
Through FY 2011
Debt Service on Existing and Projected Bond Issues
413,308,878
408,614,254
392,529,610
377,955,154
364,543,288
269,612,608
269,324,413
264,445,706
209,883,300
189,724,928
177,292,597
148,742,725
34,983,588
35,029,063
35,062,719
35,975,375
19,488,750
3,685,496,954
17,438,900
17,436,400
17,437,900
17,439,500
17,436,600
17,436,100
17,436,200
17,435,100
17,436,800
17,435,400
17,439,700
17,435,200
17,438,200
348,737,600
426,049,254
427,403,510
430,267,054
416,856,588
321,924,908
321,634,713
316,759,106
262,195,400
242,037,128
229,601,497
201,050,125
87,290,888
87,336,963
87,370,919
88,287,275
71,800,850
71,803,900
71,796,800
52,310,000
52,311,800
34,875,200
4,731,709,754
2,801,345,482
884,151,472
148,737,600
3,401,345,482
1,330,364,272
General Obligation Bond Indebtedness
Water Conservation Bonds
Clean Waters Bonds
State Land Acquisition and Development Bonds
Hazardous Discharge Bonds
Community Development Bonds
New Jersey Green Acres Bonds
Refunding Bonds (2)
Pinelands Infrastructure Trust Bonds
Resource Recovery and Solid Waste Disposal Facility Bonds
Green Acres, Cultural Centers and Historic Preservation Bonds
Jobs, Education & Competitiveness Bonds
New Jersey Open Space Preservation Bonds
Public Purpose Buildings and Community-Based Facilities Construction Bonds
Stormwater Management and Combined Sewer Overflow Abatement Bonds
New Jersey Bridge Rehabilitation and Improvement and Railroad Right-of-way Preservation Bonds
New Jersey Green Acres, Clean Water, Farmland & Historic Preservation Bonds
Developmental Disabilities Waiting List Reduction and Human Services Facilities Construction Bonds
Green Acres, Farmland and Historic Preservation, and Blue Acres Bonds
Port of New Jersey Revitalization, Dredging, Environmental Cleanup, Lake Restoration,
and Delaware Bay Area Economic Development Bonds
Urban and Rural Centers Unsafe Buildings Demolition Bonds
Statewide Transportation and Local Bridge Bonds
Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bonds
Green Acres, Farmland, Blue Acres, and Historic Preservation Bonds
General Obligation Totals:
5,141,859,598
115,025,000
197,270,000
119,260,000
48,045,000
2,999,644,116
88,165,000
344,605,000
266,110,000
113,290,000
108,145,000
277,835,000
244,755,000
2,142,215,482
43,385,000
341,870,000
$10,017,859,598
$702,380,000
$6,514,134,116
$2,801,345,482
(1) The amounts shown under the "Amount Retired" column include bonds for which provision for payment has been made through the issuance of refunding bonds.
(2) The amount shown under the "Amount Authorized" column represents the aggregate amount of refunding bonds issued. The refunding bond act does not limit the amount of refunding bonds which may be issued,
provided certain other restrictions are met. The issuance of refunding bonds may defease bonds previously issued under any bond act.
Anticipated Debt Issuances
1,414,141,414
1,281,359,661
962,713,133
Transportation System Bond Program
Existing TTFA
New-Issuance
Obligations Funded
by Appropriation to
Projected Aggregate
656,165,156
657,769,720
676,375,105
676,843,960
677,803,606
677,747,509
693,781,318
693,634,488
692,539,371
690,410,349
697,827,026
767,790,359
769,815,241
769,814,338
769,813,688
391,554,569
370,353,100
370,354,225
370,355,975
370,351,475
370,349,725
370,354,350
370,353,850
370,351,350
370,354,475
370,355,475
370,352,394
370,353,538
81,997,256
27,449,811
84,910,464
115,460,020
121,006,640
121,229,771
121,686,038
123,281,195
128,960,518
128,546,011
136,237,129
126,572,528
125,184,759
125,185,663
125,186,313
503,445,431
524,646,900
524,645,775
524,644,025
524,648,525
524,650,275
524,645,650
524,646,150
524,648,650
524,645,525
524,644,525
524,647,606
524,646,463
813,002,744
110,184,364
114,509,136
94,701,543
94,439,918
93,650,293
92,859,655
75,803,955
75,872,755
71,051,405
73,465,455
58,985,130
793,799,331
857,189,320
886,536,667
892,290,517
892,683,670
892,293,201
892,866,468
892,301,673
892,551,294
892,421,815
893,049,285
894,362,886
15,856,274,464
12,555,548,057
955,523,608
29,367,346,128
8,923,911,792
6,932,362,671
3,658,214,209
8,897,333,848
746,755,000
208,768,608
13,328,881,001
16,038,465,127
School Construction Funding Program
Anticipated Bond Issuance Through FY 2012
437,447,184
472,770,031
474,041,922
466,127,944
467,497,002
463,825,233
464,648,605
474,605,577
496,101,832
475,907,511
468,247,028
472,773,744
475,425,198
437,468,743
444,190,363
447,842,276
451,759,625
455,704,772
459,448,807
418,005,749
376,545,860
381,987,355
163,871,761
118,024,692
101,320,992
101,714,466
71,785,000
71,788,875
71,786,625
49,184,625
10,731,849,397
7,005,714,000
3,726,135,397
38,965,000
38,970,250
38,966,750
38,966,700
38,965,725
38,967,725
38,970,075
38,965,075
38,965,425
38,969,075
38,970,900
38,969,725
38,962,025
38,969,200
38,966,250
38,964,250
38,968,525
38,968,675
38,964,625
38,966,050
38,966,650
38,965,125
968,751,342
76,881,667
80,670,250
80,663,750
80,668,350
80,665,625
80,666,375
80,664,075
80,665,250
80,668,050
80,665,300
80,669,900
80,668,375
80,662,650
80,668,925
80,662,000
80,662,425
80,669,025
80,664,900
80,663,475
80,666,625
80,664,925
41,700,075
1,993,066,008
15,833,333
74,116,667
78,678,625
78,680,525
78,680,725
78,680,200
78,679,600
78,679,250
78,684,238
78,679,088
78,683,800
78,677,013
78,683,163
78,681,075
78,678,725
78,680,375
78,682,563
78,676,413
78,683,138
78,677,175
78,678,763
78,676,450
78,683,700
42,477,525
1,863,392,125
80,396,667
84,961,300
84,961,650
84,959,900
84,960,525
84,962,350
84,963,875
84,963,275
84,963,400
84,961,450
84,959,300
84,958,175
84,958,650
84,960,650
84,958,450
84,961,000
84,960,950
84,960,625
84,961,375
84,958,575
84,956,950
84,959,925
84,959,625
2,013,672,833
525,478,365
605,721,922
681,551,777
746,202,794
747,103,433
747,921,430
757,877,027
779,378,032
759,185,561
751,524,291
756,046,782
758,708,298
720,741,581
727,473,626
731,118,551
735,024,025
738,982,272
742,715,882
701,275,987
659,820,772
665,264,692
447,138,411
401,294,705
384,586,292
384,988,141
240,922,225
114,266,400
17,570,731,706
468,751,342
993,066,008
863,392,125
1,013,672,833
10,505,714,000
7,065,017,706
State Comparisons of Selected Indicators and Rankings
Net Tax-Supported Debt as a Percentage
of 2006 Personal Income
Total Net Tax-Supported Debt (millions)
+ Hypothetical $500mm new debt
2008 State Debt Medians (1)
+ Hypothetical $1,000mm new debt
(1) Source: 2008 State Debt Medians published by Moody's Investors Service, March, 2008. (Report Attached)
* Top 5 ranking (in order) includes: Massachusetts, Connecticut, Hawaii, New Jersey, New York.
** Top 5 ranking (in order) includes: Hawaii, Massachusetts, New Jersey, Connecticut, New York.
*** Top 5 ranking (in order) includes: California, New York, New Jersey, Massachusetts, Illinois.
2008 Medians are based on net tax supported debt as calculated by Moody's as of December 2007; estimated personal income for 2006
from the U.S. Department of Commerce, Bureau of Economic Analysis; and estimated population for 2007 from the U.S. Census Bureau.
2006 estimated personal income is approximately $404.192 billion and 2007 estimated population is 8,685,920.
Hypothetical State rankings are imprecise as they reflect projected information for New Jersey only.
(Placeholder Due to Copyright Restrictions)
270,714,446
255,525,482
276,380,000
280,535,000
280,075,000
200,565,000
162,728,451
157,783,396
127,434,254
116,149,610
97,420,154
84,468,288
69,047,608
433,442,897
Debt (year-end)
2,545,820,000
2,264,640,000
1,988,260,000
1,707,725,000
1,427,650,000
1,227,085,000
1,143,375
1,133,825
Gen. Obligation
Final maturity occurs 5/1/27.
Final maturity occurs on 12/15/13.
25,049,649
27,319,753
27,363,316
22,802,187
20,118,804
18,546,310
17,567,035
7,983,162
8,428,472
7,654,084
6,661,148
5,013,733
33,032,811
35,748,225
29,463,335
25,911,750
23,560,043
21,858,742
225,885,177
198,565,424
171,202,108
148,399,922
128,281,117
109,734,807
92,167,773
44,717,960
39,289,578
33,359,077
28,223,053
24,393,200
20,883,810
17,977,052
90,656,813
89,558,590
83,171,624
73,425,349
65,398,527
57,439,710
44,032,121
410,551,760
360,282,748
310,470,200
265,267,904
224,262,578
187,706,678
161,651,609
2,225,876
29,484,976
26,695,157
16,147,779
7,887,772
49,393,080
24,225,852
Final maturity occurs during
Fiscal Year 2027.
Various office leases have
different final maturities.
45,938,852
50,269,013
49,812,548
45,202,296
41,005,327
36,555,900
26,055,069
Unsecuritized rent obligations.
27,259,099
25,167,228
15,491,270
7,704,133
Various equipment leases have
56,786,031
58,466,254
61,117,647
63,337,706
55,255,000
43,270,000
37,953,768
35,517,540
33,131,755
30,822,129
18,154,629
15,631,138
94,739,799
93,983,793
94,249,402
94,159,835
73,409,629
73,701,138
56,341,081
679,601,607
621,135,354
560,017,706
496,680,000
441,425,000
383,355,000
340,085,000
10,195,738
10,196,625
10,202,513
10,203,988
1,218,298
1,286,343
1,368,293
1,447,183
12,726,012
12,510,895
12,290,892
12,065,343
Final maturity occurs on 6/15/27.
Final maturity occurs on 6/15/12.
Final maturity occurs on 3/15/22.
2,300,738
1,451,625
992,513
Liberty State Park, Park Project
4,369,684
4,280,544
4,185,906
4,044,881
3,898,169
8,034,328
6,970,996
6,854,684
6,845,544
7,425,906
7,389,881
88,415,000
82,610,000
79,265,000
75,815,000
71,791,000
71,789,250
71,713,875
44,418,375
237,120,000
111,105,000
Final maturity occurs on 3/15/27.
61,470,000
10,319,250
7,168,875
Final maturity occurs on 7/1/12.
appropriation driver surcharges.
Final maturity occurs on 1/15/11.
Newark Performing Arts Center
1,852,720
1,637,020
5,542,720
5,542,020
5,544,625
5,542,145
3,660,270
195,131,677
212,177,677
230,563,677
249,171,677
270,471,677
293,426,677
316,709,677
2,612,685,638
2,573,802,271
2,530,467,412
2,483,560,608
2,432,889,891
2,378,939,686
2,322,283,187
3,753,256
3,478,345
3,297,409
3,154,269
2,993,599
2,874,724
2,649,123
Final maturity occurs on 6/15/16.
Final maturity occurs on 2/15/29.
Final maturity occurs on 7/1/32.
State Pension Funding Bonds
34,028,814
38,883,366
43,334,860
46,906,803
50,670,718
53,950,205
56,656,499
161,102,863
173,294,311
187,228,817
202,264,874
219,800,959
239,476,472
260,053,178
Human Services Facilities Programs
5,264,838
5,262,750
5,262,713
5,265,013
5,259,938
5,259,350
46,265,000
43,435,000
40,445,000
430,204,233
6,840,479,000
6,643,139,000
6,435,714,000
6,226,969,000
6,006,959,000
5,779,249,000
Final maturity occurs on 6/15/20.
Final maturity occurs on 9/1/37.
Final maturity occurs on 7/1/15.
165,235,000
207,425,000
208,745,000
220,010,000
283,024,233
272,212,184
275,430,031
266,616,922
257,382,944
247,487,002
236,115,233
53,500,120
19,824,880
51,007,803
22,317,197
48,403,299
24,921,701
73,325,000
159,998,107
106,497,988
55,490,185
7,086,886
(1) Bonds were issued as Capital
Appreciation Bonds.
9,144,233
8,960,528
8,751,953
8,518,793
8,261,423
7,983,548
7,686,243
14,109,233
14,111,953
14,113,793
14,111,423
14,113,548
14,111,243
171,225,000
166,075,000
160,715,000
149,270,000
136,715,000
50,434,466
40,960,074
33,678,876
33,532,740
33,358,477
28,022,664
27,915,526
201,850,000
171,445,000
120,970,000
70,355,000
Final maturity occurs on 4/1/28.
Final maturity occurs on 11/1/2015.
Final maturity occurs on 3/1/14.
12,229,466
10,555,074
9,083,876
7,652,740
6,118,477
4,647,664
1,310,874
7,647,522
7,575,874
6,810,900
5,979,225
5,505,602
4,120,018
2,887,740
37,763,281
37,176,169
36,589,056
64,906,169
807,502,356
779,772,356
Final maturity occurs on 7/1/35.
Final maturity occurs on 7/1/27.
Final maturity occurs on 6/15/34.
1,756,288.59
5,546,174.50
206,508,197
136,890,556
130,347,806
125,617,806
120,863,556
116,165,806
111,706,556
111,778,806
1,315,940,000
1,257,640,000
1,201,155,000
1,094,015,000
1,043,260,000
989,895,000
61,755,000
56,485,000
54,555,000
52,585,000
50,755,000
53,365,000
75,135,556
72,047,806
69,132,806
66,308,556
63,580,806
60,951,556
58,413,806
960,882
1,916,917
2,012,978
13,921,850
3,929,225
20,973,875
20,969,500
20,971,500
Final maturity occurs on 4/1/20.
Final maturity occurs on 3/1/12.
Final maturity occurs on 3/1/11.
2,458,875
6,425,213
6,346,097
43,886,375
43,886,875
43,887,506
43,881,731
43,885,594
43,878,588
43,882,738
476,475,000
455,105,000
409,105,000
384,265,000
358,095,000
330,545,000
8,185,699
7,891,871
7,588,044
6,991,794
6,741,821
6,488,966
Final maturity occurs on 3/1/09.
Final maturity occurs on 3/1/25.
Final maturity occurs on 3/1/18.
23,531,375
22,516,875
21,462,506
20,306,731
19,045,594
17,708,588
16,332,738
2,525,699
2,231,871
1,644,576
1,846,648
3,778,060
3,776,648
3,774,456
3,773,870
26,885,000
59,177,578
59,161,678
97,993,346
97,990,158
97,994,778
97,996,652
97,992,576
1,149,714,410
1,149,699,410
1,109,749,410
1,067,534,410
1,022,884,410
975,629,410
925,579,410
Final maturity occurs on 3/1/23.
Final maturity occurs on 5/1/29.
Final maturity occurs on 3/15/29.
59,147,578
58,043,346
55,775,158
53,344,778
50,741,652
47,942,576
9,648,525
9,097,094
8,797,751
8,482,002
8,137,086
10,472,450
15,623,525
15,625,385
15,622,094
15,622,751
15,622,002
15,622,086
198,355,000
192,110,000
185,585,000
178,760,000
171,620,000
164,135,000
1,881,417
3,693,057
3,691,417
3,691,120
45,425,000
43,945,000
37,225,000
59,170,455
71,347,380
91,044,980
88,478,118
72,849,346
65,448,021
64,088,133
691,035,000
656,925,000
604,470,000
551,370,000
510,645,000
474,850,000
438,240,000
625,878,452
8,666,331,792
8,394,741,792
8,089,581,792
7,767,286,792
7,425,446,792
7,063,901,792
Final maturity occurs on 3/1/26.
Final maturity occurs on 12/15/37.
35,795,000
30,745,455
37,237,380
38,589,980
35,378,118
32,124,346
29,653,021
27,478,133
230,035,000
257,580,000
271,590,000
305,160,000
322,295,000
341,840,000
361,545,000
395,843,452
398,585,156
386,179,720
371,215,105
354,548,960
335,963,606
316,202,509
5,581,688
5,980,997
5,506,636
5,280,731
5,037,466
4,760,461
10,431,688
10,749,381
10,736,636
10,735,731
10,727,466
10,255,461
123,075,000
117,905,000
112,875,000
107,645,000
91,005,000
21,605,029
21,603,966
21,604,566
23,602,636
25,603,397
25,604,763
173,974,641
167,120,064
160,479,646
154,019,901
147,151,999
139,937,727
132,900,459
70,274,495
70,425,098
70,371,263
50,935,521
50,891,264
50,718,763
50,541,374
469,380,000
419,870,000
367,745,000
332,225,000
294,775,000
255,975,000
215,775,000
Moral Obligation. Final maturity occurs on 1/1/33.
7,125,840
6,854,578
6,640,418
6,459,745
6,867,903
7,214,271
14,479,189
14,749,389
14,964,149
15,141,959
16,734,734
18,389,126
18,567,494
Final maturity occurs on 3/15/21.
Payments from Port Authority of
New York & New Jersey offset
New Jersey Transit Light Rail System
49,510,000
23,234,495
20,915,098
18,246,263
11,918,763
10,341,374
Final maturity occurs on 5/1/19.
Payments from Federal Transit
Administration offset debt service.
NJ Class Loan Program (Various Series) and Student Loan Revenue Bonds
120,524,740
61,900,425
61,563,490
61,226,522
60,835,289
60,565,927
59,993,923
166,374,740
68,355,425
68,058,490
67,781,522
66,215,289
71,155,927
65,518,923
1,545,135,000 AAA (ins)
1,483,234,575
1,421,671,086
1,360,444,564
1,299,609,274
1,239,043,347
1,179,049,425
590,200,000
562,330,000
517,530,000
470,800,000
422,005,000
317,765,000
Moral Obligation. Final maturity occurs on 6/1/42.
51,005,000
53,235,000
17,721,924
29,386,888
27,964,763
25,707,138
23,357,388
20,884,263
44,606,924
57,256,888
72,764,763
72,437,138
72,152,388
71,889,263
71,635,700
Equipment leases have various
Payments of certain bonds
anticipated from federal full funding
agreement to offset debt service.
Atlantic City Convention Center - Luxury Tax Supported Bonds
6,489,119
6,225,419
5,641,356
5,297,469
4,556,138
12,219,119
12,215,419
12,209,794
12,181,356
12,177,469
12,161,028
12,156,138
126,020,000 AAA (ins)
93,125,000
85,525,000
Final maturity occurs on 3/1/22.
Ratings are based on bond
Comprehensive Annual Financial Report - Capital Leases
Lease Payments by the State Net of any Operating Expenses and Property Taxes as of June 30, 2008
Total Net Lease Payments ($ Millions)
312-314 Front Street
14-16 Commerce Street
Route 49 & South Pearl
1407 South Sixth Street
8861 Highland Avenue
2511 Fire Road Suite B-12
259 Boulevard (Route 50)
25-39 Artic Parkway
Trooper Drive
945 SH 12
One Lawrence Park
1B Laurel Drive, Route 206 N
40 Taylor Avenue
596 Jersey Avenue
400 Corbin Street
990-998 Broad Street
20 East Clinton & Mora
106-110 Prospect Street
Lease Payments by the State Net of any Operating Expenses and Property Taxes as of June 30, 2006
174-180 East Broadway
1005-1027 Hooper Avenue
167-169 West Hanover Street
221 West Hanover Street
433 East State Street
436 East State Street
495 West State Street
50 North Clinton Avenue
503 John Fitch Way
519-523 East State Street
605 South Broad Street
7-17 Ewing Street
171 Route 173 Suite 201
501 Landis Avenue
56 West Landis Avenue
1578 Route 23
Route 295 & Crown Point Road
1 Squirrelwood Road
Franklin & Monroe Avenues
Imputed Principal:
* Refers to the present value of the lease payments discounted at the lessee's borrowing rate.
Long Term Debt Issued Subsequent to June 30, 2008*
Health Care Facilities Financing Authority State Contract Bonds, Hospital Asset Transformation Program,
Series 2008 A
252,545,000
Transportation Project Sublease Revenue Refunding Bonds,
New Jersey Transit Corporation Light Rail Transit System
Project, 2008 Series A
342,115,000
198,205,000
State Contract Bonds, 2008 Series B
State Contract Bonds, 2008 Series C (Federally Taxable)
* Through November 7, 2008.
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