This is what I find which are comparable (by description) to the above $100B/$48B numbers as of 12/31/2005.
These are "State of California" - "Outstanding and Authorized General Obligation Bonds", as were the stated numbers in the Governor's Budget release. However, I'm not sure how the numbers grew so much in 6 months (I think there is a discrepancy here).
As of 07/01/2003 07/01/2004 07/01/2005 Authorized $63B $75B $79B Outstanding $26B $33B $35B
"I'm not sure how the numbers grew so much in 6 months"
interest?
those vig payments will kill ya! LOL
especially when you have junk bond status...
How Much Do We Already Owe?
Figure 7 shows that as of November 1, 2005, the state had almost $53 billion of General Fund debt outstanding. This includes about $42 billion in bond debt that it has used to fund infrastructure (close to $35 billion in general obligation bonds and nearly $8 billion of lease-revenue bonds). The figure also shows the debt outstanding from the deficit-financing bonds issued in 2004 (currently $10.4 billion).
Figure 7
Figure 7 Summary of State of California Outstanding and |
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As of November 1, 2005 |
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|
Outstanding Debt |
Unissued |
General Obligation Bonds |
|
|
Corrections |
$1.1 |
b |
Health |
|
$0.8 |
Higher Education |
4.7 |
3.7 |
Housing |
|
2.1 |
K-12 Education |
22.0 |
12.3 |
Resources |
1.7 |
0.8 |
State Administration |
0.3 |
0.2 |
Stem Cells |
|
3.0 |
Transportation |
1.8 |
0.2 |
Water |
2.8 |
6.5 |
Local Governmentc |
0.1 |
0.3 |
Other |
d |
|
Total, General Obligation Bonds |
$34.5 |
$29.9 |
Lease-Revenue Bonds |
$7.8 |
$3.2 |
Deficit-Financing Bondse |
10.4 |
4.1 |
Totals |
$52.6 |
$37.2 |
|
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Source: California State Treasurer |
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a Includes $19.4 billion in authorized commercial paper, of which $1.2 billion has been issued. These funds are used to initiate projects until bonds are sold. |
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b Includes $10 million in unissued bonds. |
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c Includes bonds for reading and literacy improvement and library construction. |
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d Includes $4 million in bonds for hazardous substance clean up and senior citizens centers. |
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e These are self-liquidating general obligation bonds secured by a one-quarter cent share of the local sales and use tax. However, in exchange, the General Fund pays an equivalent amount in increased Proposition 98 funding to schools. |