NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
Principal Year Ended June 30, 2025 2026 2027 2028 2029 2030-2033 Total BWI Consolidated Rental Car Facility Bonds, Series 2002 $ 5,080 5,420 5,780 6,165 6,575 30,970 $ 59,990
Interest
Total
$ 3,820 3,471 3,099 2,702 2,278 4,285 $ 19,655
$ 8,900 8,891 8,879 8,867 8,853 35,255 $ 79,645
Lease Revenue Refunding Bonds Calvert Street Parking Garage Project, Series 2015 During the year ended June 30, 2016, the MDTA issued an $18,011 Lease Revenue Refunding Bond, Series 2015 (the Series 2015 Refunding Bond), to refinance the Series 2005 bonds that originally financed the cost of a parking garage for State of Maryland employees in Annapolis, Maryland. The facility is leased to the Maryland Department of General Services (DGS) through a intergovernmental financing lease (see Note 11 for additional information). Principal and interest on the Series 2015 Refunding Bond is paid under a Facility Lease with DGS, and such other revenues attributable to the leasing of the garage and other funds held under a Calvert Garage Trust Agreement dated as of June 1, 2005, as supplemented by the 2015 Supplemental Trust Agreement. DGS’s obligation to make rental payments is subject to appropriation by the General Assembly. The Series 2015 Refunding Bond does not constitute a debt or pledge of the full faith and credit of the State of Maryland, DGS, or the MDTA. The following summarizes the principal and interest requirements, excluding unamortized premium, for the year ended June 30, 2024:
Principal Year Ended June 30, 2025 2026 2027 2028 2029 2030-2033 Total Lease Revenue Bonds Calvert Street Parking Garage Project, Series 2015 $ 1,195 1,223 1,256 1,287 1,317 4,909 $ 11,187
Interest
Total
$
277 246 213 180 146 234
$ 1,472 1,469 1,469 1,467 1,463 5,143 $ 12,483
$
1,296
66 | Maryland Transportation Authority | Notes to the Financial Statements ($ in thousands)
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