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Note 1

Note 2

Note 3

Note 4

Note 5

Note 6

Notes 7 - 14


NOTE 4


NOTE 4: Long-Term Debt

As of June 30

Interest Rate
Maturity
2000
1999

Plant Funds

(in thousands)

Revenue Bonds

Medical Center Series 1993A

4.1% to 5.2%

2000-2015

$33,230

$ 36,770

Medical Center Series 1998B

3.5% to 5.0%

2001-2018

6,290

6,525

Medical Center Series 1999A

4.5% to 5.25%

2001-2013

51,985

51,985

University of Virginia Series 1995A

variable

2020

4,680

5,060

University of Virginia Series 1998A

4.0% to 5.125%

2000-2024

71,925

73,720

University of Virginia Series 1993B

4.25% to 5.375%

2000-2020

51,905

53,800

UVA's College at Wise 1973B

5.6% to 5.875%

2000-2011

280

295

Commonwealth of Virginia Bonds

3.8% to 9.25%

2000-2016

55,805

55,553

Notes Payable to VCBA

3.75% to 5.0%

2000-2017

4,305

4,455

Notes Payable to VCBA

4.5% to 6.0%

2000-2019

32,425

--

UVA's College at Wise Notes

variable

2000

675

1,175

Higher Education Equipment Trust

Fund Leases Payable

3.85% to 5.0%

2000-2003

10,430

15,079

Other

various

2000-2003

174

270

TOTAL

$ 324,109

$ 304,687



On March 3, 1999, the University issued on behalf of the Medical Center $51,985,000 in series 1999A General Revenue Pledge Bonds to advance refund $55,875,000 of outstanding Series E Hospital Revenue Refunding Bonds. The net proceeds together with the funds available in the depreciation reserve fund were used to purchase U.S. Government securities. These securities were deposited in an irrevocable trust with an escrow agent to provide for the redemption of the 1989 Series E Revenue Refunding Bonds. The refunded Series E Bonds were redeemed on June 1, 1999. Though the advanced refunding resulted in the recognition of an accounting loss of $2,925,551 for the year ended June 30, 1999, the Medical Center in effect reduced its aggregate debt service by $13,664,428 over the next 14 years. This represents a net present value savings of $5,475,598.


LONG-TERM DEBT MATURES FOR EACH OF THE NEXT
FIVE YEARS AND IN THE AGGREGATE
(in thousands):

2000-2001

$ 19,036

2001-2002

18,139

2002-2003

16,103

2003-2004

14,460

2004-2005

15,084

Later years

241,287

TOTAL

$ 324,109

Financial Notes Home

Note 1

Note 2

Note 3

Note 4

Note 5

Note 6

Notes 7 - 14


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