Debt Management
Recent Debt Offerings
On December 11, 2003, the District issued its Series 2003B General Obligation Bonds in the aggregate principal amount of $174 million (the "2003B Bonds"). The proceeds of these bonds are being used to finance a portion of the District's fiscal year 2004 capital improvements program. Also on December 11, 2003, the District issued its Series 2003C and 2003D Multimodal General Obligation Bonds in the aggregate principal amount of $140.3 million (the "2003C Bonds" and "2003D Bonds," respectively). The proceeds of these bonds are being used to finance a portion of the District's fiscal year 2004 capital improvements program. The 2003B Bonds were issued as fixed-rate bonds with an average rate of 4.94 percent. The 2003C and 2003D Bonds were issued as auction rate securities and variable-rate demand obligations, respectively. The final maturities of the 2003B, 2003C and 2003D Bonds are June 1, 2021, 2028, and 2026, respectively.
On December 2, 2003, the District issued Fiscal Year 2004 General Obligation Tax Revenue Anticipation Notes in the aggregate principal amount of $250 million (the "TRANs"). The proceeds of the TRANs were used to finance general governmental expenses of the District in anticipation of the collection or receipt of revenues for fiscal year 2004. The TRANs were issued as fixed-rate notes and mature on September 30, 2004.
For more information regarding individual series of District bonds, please visit our website for continuing disclosure. This website contains official statements for each outstanding District bond issuance.
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