Note 6-Revenue Bonds

… general obligation bon ded debt during the yea r ended June 30, 2003, are summarized in Note 10. NOTE 6. REVENUE BONDS REVENUE BONDS The State Constitution empowers certain Sta te agencie s and author ities to issue bo …

… bon ded debt during the yea r ended June 30, 2003, are summarized in Note 10. NOTE 6. REVENUE BONDS REVENUE BONDS The State Constitution empowers certain Sta te agencie s and author ities to issue bonds that are not su …

… redit of the State. These bonds pledge income derived from acquired or constr ucted assets or some other stream of revenues to retire the debt and pay related interest. PRIMARY GOVERNMENT Delaware Economic Development Office Th …

… moto r fuel taxes and motor vehicles fees imposed and collected by the State and deposited in the Trust Fund, and revenue from the Delaware Turnpike, which the Authority owns and operates. The Authority also has the power to issue bonds, …

… authorization, to finance improve ments to the State's transportation system. The Authority may apply Trust Fund revenue in excess of debt service requirements for transportation projects, subject to legislative authorization, and may pl …

… e requirements for transportation projects, subject to legislative authorization, and may pledge any or all of this revenue to secure financing for these projects. On August 15, 2002, the Trust Fund issued $1 73,680,000 of Transport ation …

… ing for these projects. On August 15, 2002, the Trust Fund issued $1 73,680,000 of Transport ation System Senior Revenue Bonds, 2002 Series B. A portion of the proceeds was used for a current refunding of $85,320,000 of Transportation S …

… Series B. A portion of the proceeds was used for a current refunding of $85,320,000 of Transportation System Senior Revenue Bonds. The refunding was undertaken to reduce the total future debt service payments. The transaction resulted in …